Template-Type: ReDIF-Paper 1.0
Series: Tinbergen Institute Discussion Papers
Creation-Date: 2019-01-27
Number: 19-008/VIII
Author-Name: Thijs Dekker
Author-Email: t.dekker@leeds.ac.uk
Author-Workplace-Name: University of Leeds
Author-Name: Paul (P.R.) Koster
Author-Email: p.r.koster@vu.nl
Author-Workplace-Name: Vrije Universiteit
Author-Name: Niek Mouter
Author-Email: n.mouter@tudelft.nl
Author-Workplace-Name: Technical University Delft
Title: The economics of participatory value evaluation
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.
Classification-JEL: H43; C35; C91; D63; D71
Keywords: participatory value evaluation; cost-benefit assessment; welfare analysis; discrete-continuous choice models
File-URL: https://papers.tinbergen.nl/19008.pdf
File-Format: application/pdf
File-Size: 757269 bytes
Handle: RePEc:tin:wpaper:20190008