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The economics of participatory value evaluation

Thijs Dekker (), Paul Koster () and Niek Mouter ()
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Niek Mouter: Technical University Delft

No 19-008/VIII, Tinbergen Institute Discussion Papers from Tinbergen Institute

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 (search for similar items in EconPapers)
JEL-codes: H43 C35 C91 D63 D71 (search for similar items in EconPapers)
Date: 2019-01-27
New Economics Papers: this item is included in nep-dcm
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