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Participatory Economic Valuation Methods

Aim of the resource

Participatory economic valuation methods focus on reflecting stakeholders' own perceptions and categories of value and attempt to ensure that users of ecosystem services are involved in the valuation process. Participatory economic valuation methods are most commonly applied to provisioning services and are typically flexible, and do not require large amounts of complex data.

Using the resource
Requirements for using the resource:
<p><strong><u>Time requirement:</u></strong><br />
• Participatory economic valuation methods lend themselves well to rapid assessments.<br />
• More detailed studies may require substantial inputs of time, to build up trust with ecosystem service users and beneficiaries, ensure adequate levels of stakeholder participation, and generate the depth of understanding of context that is required.</p>

<p><u><strong>Costs:</strong></u><br />
• Participatory economic valuation is usually relatively low-cost to implement.<br />
• However, the time required to undertake in-depth participatory studies, including substantial fieldwork, may add to implementation costs.</p>

<p><strong><u>Type and level of expertise/skills needed:</u></strong><br />
• Most participatory economic valuation methods do not require specific expertise or skills to implement.<br />
• Knowledge of the local context within which ecosystem services are being used and valued is a distinct advantage.</p>
Potential benefits from using the resource
Directly reflect stakeholder preferences, perceptions and categories of value.
Are flexible, and can be adapted to many different circumstances and needs.
Can yield both qualitative and quantitative information about ecosystem dependencies and benefits.
Pay attention to the broader social, institutional and cultural context in which ecosystem services are managed, used and perceived.
Data collection and analysis is usually relatively straightforward and cost-effective to undertake.
Potential limitations from using the resource
Lack of single method or accepted process means that studies are not always accepted or given credence by scientists and decision-makers.
May be time consuming to carry out, as require building trust with ecosystem service users and beneficiaries, ensuring adequate levels of stakeholder participation, and generating a depth of understanding of context.
Estimates generated for one stakeholder group or in one site cannot usually be extrapolated to, or compared with, other groups or areas.
Assessment of effectiveness of the tool or instrument
<p>See "Participatory economic valuation methods - Method Profile" (see down below in "links").</p>
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Resources

Participatory economic valuation methods incorporate stakeholder perceptions, preferences and value categories into ecosystem service valuation approaches.

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