The Economics of Participatory Value Evaluation

Tinbergen Institute Discussion Paper 2019-008/VIII

38 Pages Posted: 4 Feb 2019 Last revised: 22 Feb 2019

See all articles by Thijs Dekker

Thijs Dekker

University of Leeds - Institute for Transport Studies

Paul Koster

VU University Amsterdam - Department of Spatial Economics

Niek Mouter

Delft University of Technology

Date Written: January 27, 2019

Abstract

This paper develops a novel approach to the economic evaluation of public policies: participatory value evaluation (PVE). PVE involves citizens directly in decisions of the government, taking into account governmental and individual budget constraints. Citizens receive reliable information on social impacts and can choose the best portfolio of projects according to their social preferences. This paper develops the economic and econometric theoretical framework for fixed budget and flexible budget PVE experiments which allows us to directly measure the change in social welfare for investments in water infrastructure in The Netherlands.

Keywords: participatory value evaluation, cost-benefit assessment, welfare analysis, discrete-continuous choice models

JEL Classification: H43, C35, C91, D63, D71

Suggested Citation

Dekker, Thijs and Koster, Paul and Mouter, Niek, The Economics of Participatory Value Evaluation (January 27, 2019). Tinbergen Institute Discussion Paper 2019-008/VIII, Available at SSRN: https://ssrn.com/abstract=3323645 or http://dx.doi.org/10.2139/ssrn.3323645

Thijs Dekker (Contact Author)

University of Leeds - Institute for Transport Studies ( email )

United Kingdom

Paul Koster

VU University Amsterdam - Department of Spatial Economics ( email )

De Boelelaan 1105
1081HV Amsterdam
Netherlands

Niek Mouter

Delft University of Technology ( email )

Stevinweg 1
Stevinweg 1
Delft, 2628 CN
Netherlands

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