Beyond the Bottom Line: Nonmarket Stated and Revealed Preference Methods for Community Resilience and Adaptation Planning

Published

August 21, 2024

Author(s)

Jennifer Helgeson, Christina Gore

Abstract

This report details the importance of nonmarket valuation techniques for community resilience planning. Community resilience planning decisions involve making trade-offs between the benefits and costs of different resilience projects. In order to make those decisions about trade-offs, the valuation of each benefit and cost must be accurately measured. Often community resilience projects involve valuing a good or service that is not sold in a traditional market, so nonmarket valuation is used in these cases. This report details different commonly used nonmarket valuation methods as well as considerations for which methods are most appropriate in given circumstances as well as additional considerations that should be included.

Citation

Special Publication (NIST SP) - 1322

Report Number

1322

NIST Pub Series

Special Publication (NIST SP)

Pub Type

NIST Pubs

Download Paper

https://doi.org/10.6028/NIST.SP.1322

Local Download

Keywords

Benefit cost analysis, co-benefit, nonmarket valuation, revealed preferences, stated preferences, resilience dividend, resilience windfall.

Citation

Helgeson, J. and Gore, C. (2024), Beyond the Bottom Line: Nonmarket Stated and Revealed Preference Methods for Community Resilience and Adaptation Planning, Special Publication (NIST SP), National Institute of Standards and Technology, Gaithersburg, MD, [online], https://doi.org/10.6028/NIST.SP.1322, https://tsapps.nist.gov/publication/get_pdf.cfm?pub_id=958432 (Accessed October 9, 2025)