Willingness to Pay, Monetizing Non-Market Goods: Cost-benefit analysis is a method of assessing a decision in economic terms, but which is often used to try to make broad social assessments. Part of a comprehensive cost-benefit analysis is trying to add up non-market goods, such as life, health, natural settings, and enjoyment. Economists try to find ways to measure our willingness to pay for these goods in order to translate them into dollar figures that can be added up. Is our willingness to pay for something a good stand-in for how valuable something is to us? Does it uncover the truth?

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