Appraising non-market values in Transport Infrastructure Development

Abstract

Application of cost benefit analysis has been increasingly commonplace in appraisal of public works projects. However,evaluation of non-market values is in part left behind due to the difficulties in its measurement. Contingent valuation method is expected to play a role in non-market value assessment despite its inherent problems. This paper introduces a study on an impact of elevated motorways on landscape as an example of CVM application. The result of the surveys is analysed to discuss the applicability of the method to subjects with different levels/types of utility change brought to respondents.