The expert valuation method for assessing agro‐environmental policy

The Contingent Valuation Method (CVM) and other conventional valuation methods of non‐market goods often prove to be unsuitable for the evaluation of the benefits of agro‐environmental policy. Therefore, a new method is introduced, according to which a group of experts jointly evaluates the strengths, weaknesses and finally monetary benefit of agro‐environmental programmes. While the methodology combines expert surveys, group discussions and CVM, its theoretical background is merit good theory. Compared to CVM, the most important practical difference in its outcome is the greater openness of the results. As an example, the Expert Valuation Method is applied to two groups of agro‐environmental policy measures in Switzerland. Suggestions for more efficient levels of reimbursements are made.