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Monetarization

This is one option to find the best option. Others are the minimax-rule, utility analysis, AHP, and optimality curves, for example. 

Some economists point out, that evaluations deal with values. And values should be quantified in terms of currency, so that the easiest end is to add all values… That amounts to transfer any assessments to Euros or dollars. There are some models to do this in a fairly scientific way. 

Taking an example, we must invent some estimated figures. If those are accepted, then option 3 is best, and option 2 seems to be surprisingly good, too. But in some cases, we pass the limits of fairness and modesty. How to calculate the value of human health? …or of eco-efficiencySo, for as attractive this idea may sound, in practice it generates significant controversies.


(See more under PR1-F04)

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