What are non-market values of floods benefits?

Floods produce several direct and indirect effects most of which remain unpriced by the market. Many of the benefits provided by natural resources such as wetlands remain unpriced. The inability to exclude others from enjoying benefits or suffering costs prevents the market price from sending the correct signals about the true economic value of the wetland. Non-market value can be categorized as follows:

  • Value of a prevented fatality or prevented injury;
  • Value of time lost prevented;
  • Value of health benefits;
  • Value of design quality;
  • Value of environmental services lost (air quality, landscape, water, biodiversity, noise, recreational and amenity values for forests etc.); and
  • Value of dis-amenity.