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Valuation of eco-related consequences

Valuation of eco-related consequences

Three step process: Each valuation process can - independent of its economic or ecological focus - be subdivided into three stages: The selection of the target object, the determination of the effects to be analyzed and, last but not least, the monetary or non-monetary valuation of these effects. Already during the first two stages an implicit valuation through the selection processes for the target object and the effects takes place. The actual explicit valuation that is predominantly discussed in the literature is confined to the last stage. For the whole valuation process the three stages have to be clearly separated in order to be able to unequivocally attribute the influences on the results to the single stages. Implementation: Each valuation process is only as good as the information and decision instruments that are used in the determination of its results. Special features of eco-related consequences: The structure of a valuation process of eco-related consequences corresponds to the one for economic, monetary valuable consequences. The scientific discussion needs an objective analysis of the three stages and of the information and decision processes that implement the valuation.