Non Market Valuation

There are many examples of instances where a projects, policies or other investment initiatives give rise to social, health, or environmental impacts that cannot be readily valued through observed prices in the market place. These types of goods and services are typically not traded in markets, and hence there is no observable information about the amount people are willing to pay for improvements (or the amount of compensation people would demand for decrements).

Synergies

Latest Case Studies

Case study

The economics of responding to drought in Greater Sydney

Sydney Water engaged Synergies to develop an economic framework for quantifying the risks, costs and benefits of a drought management strategy for Greater Sydney. The framework examines the optimal sequence of new water supply projects as Sydney’s storage levels drop. The optimal strategy is one that avoids the risk of storages falling below critical levels (and triggering the need for very significant water restrictions), while minimising the cost of investing in capital projects that may ...

Case study

Please hold: costing telco customer wait times

Synergies was engaged by the Australian Communications Consumer Action Network (ACCAN) for advice on estimating the value of consumers’ time wasted (“time forgone”) trying to resolve customer service issues and the cost to consumers of intermittent or delayed supply (“reliability”). The aim of the advice was to provide an evidence base and a source of practical guidance on matters including how to apply non-market valuation techniques in the telecommunications context and the strengths and limitations ...

Case study

Assessing the economic benefits of restoring the historic Esperance Tanker Jetty

The Shire of Esperance is examining options for replacing the 80-year-old Esperance Tanker Jetty, which is currently in a dilapidated state. Synergies, in partnership with Whitney Consulting, was engaged by the Shire to prepare a cost benefit analysis as part of a business case for restoring the structure, with consequent tourism and amenity benefits for Esperance. The Shire used the business case and supporting analysis to apply for funding from the Australian Government’s Building Better ...

Case study

The economics of options for managing groundwater in Perth’s Gnangara area

The Gnangara Mound just north of Perth is an important source of groundwater for public water supply, agriculture, and other users. Groundwater levels have been falling over the last 20 years or due to declining rainfall, increased groundwater abstraction in line with population growth, and the impact of pine plantations in the area that use considerable volumes of water. Synergies was engaged by the Department of Water and Environmental Regulation (DWER) to quantify the economic ...

Case study

Assessing the feasibility of the NuWater project

Synergies was engaged by the Queensland Farmers’ Federation (QFF) to undertake a water demand assessment and to assess the economic and financial and commercial feasibility of the NuWater project – a proposal to supply recycled wastewater from treatment plants in South East Queensland to agricultural producers in the Lockyer Valley and on the Darling Downs.

Case study

Valuing the social and economic benefits of urban renewal – Fortitude Valley, Qld

Inner urban redevelopment projects have great potential to deliver multiple benefits for the community. When done well, redevelopment can dramatically improve the amenity and ‘livability’ of an urban centre. In this study, Synergies was engaged by LaSalle Managed Investments to quantify the social and economic benefits of a proposed project to refurbish the Fortitude Valley Railway Station, just outside central Brisbane.

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