Notes and Downloads


Acronyms and definitions

BT          Benefit transfer

Benefit transfer is a process where the results of intangible (non-market) values estimated for the original study are extrapolated to predict values for a different study

CPI        Consumer Price Index

The Consumer Price Index (CPI) is a measure of household inflation.

NH         Natural hazard

Natural hazards are naturally occurring events that have a negative impact on people or the environment, including bushfires, storms and cyclones, heatwaves, floods and earthquakes.

Non-market values        

Non-market values are the intangible or non-financial values that people hold for goods and services that are not bought and sold through a market. 

WTP      Willingness to pay

Willingness to pay represents the maximum amount someone will pay for a particular good or service, whether or not that person is being directly impacted. In the context of non-market values, it can represent how much an individual would pay for a change in a social, environmental or health related outcome (e.g. how much they would pay to reduce the number of fatalities in a bushfire event).  

Criterion for determining study quality ratings for references:

Consideration is given as to whether the reference study:

  • was peer reviewed

  • used best practice methodology

  • adequately reported statistical significance (including confidence intervals, standard errors, etc.)

  • provided a transparent overview of methods used (including reporting of sample statistics and clear definition of the case study and the marginal values being measured).

A collective assessment was made across these factors and ratings assigned to each reference on the following scale: 1 = high quality, 2 = average quality, 3 = poor quality.

Criterion for determining benefit transfer applicability ratings:

Consideration was given to:

  • the study quality rating (the higher the quality of the study, the more confidence we can have in the estimates)

  • the suitability of the study for benefit transfer in general (high quality studies with a generic focus are most suitable; some studies might be high quality, but designed for some very specific investigation that makes them difficult to transfer to other contexts)

  • whether the study was Australian

  • whether the study was conducted in a natural hazard decision context.

Studies that were high quality, high suitability for benefit transfer and conducted in a natural hazard context on an Australian sample were assigned a rating of 1 = high applicability.

Studies that were at least average quality, suitable for benefit transfer, and were conducted either in a natural hazard context or were Australian, were assigned a rating of 2 = average applicability.

Studies that were poor quality, not suitable for benefit transfer in general, were not conducted in a natural hazard context or were not Australian were assigned a rating of 3 = poor applicability.

Citation when referencing the Value Tool for Natural Hazards website or outputs: 

Value Tool for Natural Hazards (2021), version 3.0, Bushfire and Natural Hazards CRC website, available from

Download the Guidelines: Value Tool for Natural Hazards and Excel version of Value Tool For Natural Hazards

The data presented within the Value Tool for Natural Hazards can be accessed in two formats either via the Value Selector tab on this website, or in Excel format for offline use.

The Value Selector option available on this website provides an easy way to navigate the different non-market values and some of the key summary information to help interpret those values.

A downloadable Excel spreadsheet is also available as an alternative to the online Value Selector. The spreadsheet contains some additional information to support interpretation of the values, and can be downloaded below. 

Both the online Value Selector and the Excel spreadsheet should be used in conjunction with the Guidelines: Value Tool for Natural Hazards document below.

Click to Download: Guidelines: Value Tool For Natural Hazards

Click to Download: 
Value Tool for Natural Hazards - Excel format