Environmental Values Estimation in the Transportation Projects

Abstract

There are concerns about environmental protection on one hand and on the other hand, a desire to have sustainable development. The environmental values estimation studies help us find a balance between environmental concerns and the development. Thus, economic valuation help human for obtaining “sustainable development”. Estimation of environmental values provides quantities tool for making a sound policy. Our objective is to introduce a sound appreciate and economic technique for estimation environmental asserts in the projects. Some of the major environmental impacts of road projects contain damage to the natural resources and the fragile environment. The environmental impact assessment (EIA) accomplishing is essential for transportation projects. Another concept relates to environment in the transportation projects is the “externality”. An externality is an un-priced benefits or costs straight gave or imposed upon one agent by the actions of another agent. Externalities cause market failures in the sense will exist a difference between the private and the social (private plus external) costs and benefits. The sum of all of different values join together with a resource is total economic values or (TEV). The economists define “economic value” as the maximum willingness to pay (WTP) for an environmental source or natural resource. The CVM is the only approach accessible for estimating nonuse values. The contingent valuation method (CVM) is the most common method for valuing non market amenities. Moreover, the CVM questioning form based on hypothetical features is the most usually used to estimate the non-use value of the environment including bequest, existence and option value through directly surveying respondents on WTP for possible environmental characteristics in a hypothetical market.