to economic valuation. E.g. contingent valuation method.

The Contingent Valuation (CV) method is a type of survey-based economic valuation technique used to estimate the value individuals place on public goods that are often not traded in markets and therefore lack a conventional, market-based price. The contingent valuation approach is used to ask people what they are willing to pay for a good that might otherwise be considered to be priceless. A survey instrument is used to determine how much people would be willing to pay out-of-pocket for certain desirable public goods and services. The resulting information is used to produce an accurate estimate of the economic value associated with the public good or service. The Economic Value derived from this method is useful for decision makers charged with evaluating the costs associated with regulations or policy decisions. By employing CV methods, decision makers can consider the economic opportunity costs associated with regulations and proposed policy changes.