An Introduction to Participatory Value Evaluation

Abstract

Participatory Value Evaluation (PVE) is an evaluation method which infers the social welfare effects of public policies by eliciting individuals’ preferences over the allocation of public budgets as well as their private income. In a PVE, individuals are asked to choose the best portfolio of projects subject to governmental and private budget constraints. This paper explains that PVE gives individuals the opportunity to express a broader range of preferences concerning (impacts of) government policies compared to existing valuation methods. The paper illustrates PVE with a case study on projects to mitigate flood risks in which 2,900 Dutch citizens participated.

Keywords: Participatory Value Evaluation, Cost-Benefit Analysis, Benefit-Cost Analysis, Citizen Participation, Valuation Methods