Economic valuation is a method used in environmental economics to assign a monetary value to the benefits or costs of certain environmental goods or services. This approach helps quantify the value of these resources in decision-making processes, such as policy-making, land use planning, and environmental conservation efforts. Economic valuation techniques include contingent valuation, hedonic pricing, travel cost method, and cost-benefit analysis, among others. These methods help to understand the trade-offs between different environmental options and inform stakeholders on how to allocate resources effectively for sustainable development.