Non-market values and Benefit Transfer (IRP2-WP2)
This work package has developed a Value Tool consisting of a comprehensive database of existing non market values and some market values of water sensitive systems and practices that will be used to underpin various benefit-transfer methods. A set of guidelines have been developed to assist the user. The Value Tool is part of a broader package of economic tools and resources, known as INFFEWS (Investment Framework For Economics of Water Sensitive cities). Another component of INFFEWS is the Benefit: Cost Analysis (BCA) Tool, which is tailored to assess investments for water-sensitive cities. The BCA tool is intended to support balanced and systematic decision making about these investments, and to provide evidence for use in business cases.
INFFEWS Value Tool - a collection of non market and market values of water sensitive systems and practices
We have custom-built an excel-based database using more than 700 values from Australian studies and have arranged these in a way that allows them to be easily and efficiently accessed. Wide consultation with the project steering committee and non market value experts was undertaken on the design and functionality of this database, ensuring that it would be easy to maintain into the future. Some original non market valuation studies will be conducted as part of the case studies to test the tools and framework (see WP5 for further details). The database will be continuously updated as new information is generated. Some training has been conducted in Perth, Melbourne and Brisbane to demonstrate how to use the tool and the types of values and studies that have been included in the database. Further training will be provided in 2019. The Values Tool is currently being tested by IRP2's project steering committee, some CRCWSC Participant organisations and some relevant case study project partners.
INFFEWS Value Tool: Guidelines - key concepts and instructions behind using the tool
It is not always possible or appropriate to conduct original non-market valuation studies. Benefit transfer is the systematic extrapolation of existing non-market valuation results to new contexts. Its main attraction is that it saves on cost, relative to conducting original studies for every case where a decision is needed. Using benefit transfer methods, findings (values, functions) from the original study site are transferred to the site where benefits need to be calculated. If carefully conducted, benefit transfers have the potential to provide a reasonable approximation of the value for situations that lack an original non-market valuation study. There are different methods to conduct benefit transfer: meta-analysis, function transfer and unit value (means) transfer. Each of these methods have their strengths and weaknesses.
With existing close links and collaborations with some of the world experts in these methods, including Prof Rob Johnston from Clark University, USA; Prof Peter Boxall from University of Alberta; and Prof John Rolfe from Central Queensland University, we have developed accessible guidelines for end users on how to conduct benefit transfer for water sensitive practices, including choosing appropriate methods for the particular context.
These Guidelines should be read in advance of using the Value Tool and conducting benefit transfer, and are now available to the public:
To download the beta version of the INFFEWS Value tool, please first make sure you are logged in as a CRCWSC Participant (log in is located at the top right hand corner of website). Thereafter, you can click on the below "Register Here" button. You will be directed to a registration page to enter your details and accept the terms and conditions, and then to the download page. Please note, the files must not be distributed or shared with anyone as they are draft versions of the tools and guidelines, and the final versions will be released after updates and further testing in case studies have been conducted.
If you are a CRCWSC Participant, but are having difficulty logging in or completing the google-based registration form, please contact Tammie Harold at email@example.com
If you are not a CRCWSC Participant or SME, please contact your CRCWSC Regional Manager to discuss temporary access.
Please provide your comments and feedback to IRP2 team member Tammie Harold who will record and pass on the specific comments and questions about the tool to the developer and, where possible, address any general questions or clarifications. We are keeping a record of who has obtained a copy of the beta version and may contact you for your feedback.