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This document discusses methods for assigning a monetary value to the external costs of transport in order to implement policies aimed at internalizing these costs. It describes several valuation methods and their advantages and disadvantages, including the damage function approach, avoidance costs approach, hedonic pricing approaches, and contingent valuation/stated preferences approach. It notes that contingent valuation tends to provide the highest monetary values since it aims to measure people's total willingness to pay and includes non-market impacts, though it is also the most expensive to conduct.