MCDA has gained credibility in the field of integrated water resources management because of its ability to overcome human limits to intuitively combine different sources of information in a rational way without requiring the estimation of monetary values (Giupponi and Sgobbi 2013).
The estimation of such monetary values has been challenging economists for the last decades because of the complexity of considering landscape components in economic models.
The estimation of the monetary value of time (VOT) is different in the proposed models; specifically, in the RP model the VOT is equal to 3.78 €/h, indicating that the user is willing to pay this fee in order to save one hour of time, while VOT is much lower in the SP and RP/SP models, assuming a value equal to 0.94 €/h and 0.67 €/h, respectively.
For NMB, we repeated the estimation of net monetary benefit with two different amounts for how much a gained QALY can cost.
Indeed, expressing global warming in monetary terms requires providing a consistent estimation of the effects of higher temperatures within the well-known uncertainty of linking CO2 and environmental damage.
Second, the definition of dietary costs used in this study should be viewed as an estimation of the intrinsic monetary value of diet, and not a measure of food expenditure.
The circumstances under which monetary and non-monetary welfare measures can be combined for efficient estimation of welfare measures and to guide public resource allocation also remain unclear.
A more accurate estimation of medical costs should include indirect monetary and non-monetary costs such as increased time off from work or school, psychological stress, and reduced performance by offspring in school [ 3].
In addition, good diary return rates can be achieved using a monetary incentive and the diary format allows for collective recording, rather than an individual's estimation, of household water usage.
Businesses can use their estimation of the likelihoods of the outcomes of options open to them along with their associated monetary losses and gains to determine the expected utility of each option in terms of its expected monetary profits.
