Introduction to Non-Market Valuation Methods and Critical Review of Their Application in the Czech Republic
Abstract
The primary objective of the paper is to provide a summary and critical review of the non-market valuation studies that have been carried out in the Czech Republic until 2005. In addition to that, non-market valuation studies that have been applied in Poland and Hungary are also briefly reviewed.
In the paper the various approaches and methods of assessment of policy options for environmental regulation are firstly discussed. Then the taxonomy of various valuation methods is provided and the market and non-market valuation methods are briefly described.
The core part of the paper presents the summary of non-market valuation carried out in the Czech Republic. A total of 13 such studies that have been carried out and five new or ongoing research activities were identified.