totalverdi

Totalverdi is a term used in value theory and sustainability studies to denote the aggregate value of a decision, project, or system, incorporating economic, social, environmental, and cultural dimensions. The word combines "total" and "verdi" (value in Norwegian and some other languages), reflecting an intent to go beyond monetary price alone. In practice, totalverdi denotes an integrated assessment where non-market values are included alongside traditional economic metrics.

There is no universally adopted definition; operationalizations vary by field. Common elements include direct financial costs and benefits, social welfare impacts, environmental effects, and long-term resilience. Valuation methods may mix monetary techniques—contingent valuation, revealed preference, and market proxies—with non-monetary indicators such as quality of life, biodiversity, and cultural significance. Weighting schemes, discount rates, and aggregation rules differ across analyses, reflecting normative choices.

Applications span policy appraisal, infrastructure and urban planning, corporate sustainability reporting, and environmental impact assessment. The goal is to enable comparison of options on a common, comprehensive value scale.

Critiques center on methodological challenges: aggregation across heterogeneous value types can be controversial, risk of double counting, uncertainty in non-market valuation, ethical concerns, and potential bias in weighting. Proponents argue that totalverdi provides a more complete basis for decision making than price alone.