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WP 6 Economic risk analysis and valuation

WP6 Economic risk analysis and valuation

The objective of this work package is to provide an economic valuation and risk analysis of the land management scenarios studied in the overall project. This work package consists of two parts: one part – WP 6.1 – employs the contingent valuation method to empirically assess the economic value of the various land management scenarios while the other part – WP 6.2 – focuses on the theoretical concepts needed to quantify income risks when the probabilities of possible outcomes are unknown, a task which is essentially out of reach of classical expected utility theory.

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