“…Furthermore, pricing metrics, based on non-market and global value transfer methods, may provide inaccurate country-specific value measurements. Hence, a recent Thailand-specific study, based on an alternative budget constraint method, found that external costs amount to 19% of the Thai retail price of palm biodiesel (Kaenchan and Gheewala, 2017). In contrast, our market-based approach is specifically designed to assess pecuniary economic and welfare impacts, and, at the same time, provide holistic and consistent modelling of a range of (non-monetized) multi-dimensional outcomes, including non-pecuniary nutritional, clinical health and environmental outcomes, and thereby allow policymakers to make informed policy choices based on established trade-offs (and based on their own implicit weighting of pecuniary and non-pecuniary outcomes).…”