COST Action E45 Good Practice Valuation Guidelines available

The COST Action E45 (EUROFOREX) published Good Practice Guidelines for the Non-Market Valuation of Forest Goods and Services.

The guidelines contain good practice protocols for the economic valuation of non-market forest goods and services developed by participants to the European Cooperation in Science and Technology (COST) Action 45 "European forest externalities (EUROFOREX – COST E45).

 Although there is a considerable body of research in Europe concerning the valuation of forest externalities, the results from these valuation studies are often not comparable due to variations in the application of the valuation methods and the reporting of results.

The aim of the protocols is to facilitate a better and more consistent application and reporting of non-market valuation projects. The guidelines address the application of stated preference methods (contingent valuation and choice experiments), revealed preference methods (hedonic pricing approach and travel cost models) and benefit transfer approaches.

The guidelines are available at the site: link