Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/205298 
Year of Publication: 
2019
Series/Report no.: 
Tinbergen Institute Discussion Paper No. TI 2019-008/VIII
Publisher: 
Tinbergen Institute, Amsterdam and Rotterdam
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.
Subjects: 
participatory value evaluation
cost-benefit assessment
welfare analysis
discrete-continuous choice models
JEL: 
H43
C35
C91
D63
D71
Document Type: 
Working Paper

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