1. https://data.geoscience.earth/ncl
  2. ISO14008
  3. _3.2.3
stable

Entry: monetary value

URI: https://data.geoscience.earth/ncl/ISO14008/3.2.3

amount of money representing willingness to pay (WTP) (3.2.1) or willingness to accept compensation (WTA) (3.2.2). Note 1 to entry: What is valued in monetary terms by default is marginal changes in quality or quantity of goods (3.1.2). It is not the absolute value of any given good or service that is valued. The size of change depends on the context. Note 2 to entry: Commonly, the WTP distribution in a given population is skewed. While mean WTP is the theoretically correct measure to use, for example, in cost-benefit analyses, median WTP can be argued to be the better predictor of what the majority of people would actually be willing to pay if the WTP distribution is skewed. This equally applies to WTA.

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submitted byCorentin Follenfant
accepted on 31 Mar 2025 14:23:07.029

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date accepted 31 Mar 2025 14:23:07.029
date submitted 31 Mar 2025 14:21:43.196
definition
entity monetary value
source graph graph

item class Concept
label
en monetary value
fr valeur monétaire
notation 3.2.3
register ISO14008
status status stable
submitter
account name c.follenfant@brgm.fr
name Corentin Follenfant

type register item
version info 2
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Definition

broader Environmental economics
definition
en amount of money representing willingness to pay (WTP) (3.2.1) or willingness to accept compensation (WTA) (3.2.2). Note 1 to entry: What is valued in monetary terms by default is marginal changes in quality or quantity of goods (3.1.2). It is not the absolute value of any given good or service that is valued. The size of change depends on the context. Note 2 to entry: Commonly, the WTP distribution in a given population is skewed. While mean WTP is the theoretically correct measure to use, for example, in cost-benefit analyses, median WTP can be argued to be the better predictor of what the majority of people would actually be willing to pay if the WTP distribution is skewed. This equally applies to WTA.
fr somme d’argent représentant le consentement à payer (CAP) (3.2.1) ou le consentement à recevoir une compensation (CAR) (3.2.2). Note 1 à l’article: L’évaluation en termes monétaires porte par défaut sur les variations marginales de qualité ou de quantité des biens (3.1.2). Elle ne vise pas à déterminer la valeur absolue d’un bien ou service donné. L’ampleur de la variation dépend du contexte. Note 2 à l’article: En général, la distribution du CAP au sein d’une population donnée est biaisée. Bien qu’il soit théoriquement correct d’utiliser le CAP moyen, par exemple pour des analyses coût-bénéfice, le CAP moyen peut être considéré comme le meilleur outil pour prédire ce que la majorité des individus seraient réellement prêts à payer si la distribution du CAP était biaisée. Cette remarque prévaut également pour le CAR.
notation 3.2.3
pref label
en monetary value
fr valeur monétaire
same as iso:std:iso:14008:ed 1:v1:en:term:3.2.3
source ISO14008:2019
type Concept

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