We worked with BBC Studios on their Green Planet series to help understand how the public valued the series. To do this, we used Contingent Valuation.
...But what is "Contingent Valuation" and what do you need to consider when undertaking a CV study?
CV is a stated preference method (and Green Book compliant approach) we use to monetise an outcome or scenario by determining people's willingness to pay for them - or conversely, the compensation required if the scenario or outcome is negative.
✔ Survey design is important - and there are a few key ways to design a survey to determine WTP.
✔ We also have to think about the practicalities -how we're describing the scenario, whose responses we're most interested in,and how they'd be expected to pay.
✔ It can work in a whole range of contexts, including understanding the value the public places on access to museums, cultural sites,or even a documentary series.
CV is a great method to help understand the value of things that don't have an explicit price. This helps us optimise investment by keeping people at the heart of decision making.
💡Want to learn more?
Check out our case studies: https://lnkd.in/gnZctZRc
💡Interested in finding out how you can put CV to work for you? We can help. Booka free 1-1 with Chief Economist EdwardDallas
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