Replacement cost valuation - Revision history

Designing Buildings at 08:03, 7 March 2021

2021-03-07T08:03:23Z

← Older revision		Revision as of 08:03, 7 March 2021
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	* Whole life value.		* Whole life value.

−	[[Category:~~Definitions~~]] [[Category:~~DCN_Definition~~]] [[Category:Cost_/_business_planning]]	+	[[Category:DCN_Definition]] [[Category:DCN_Guidance]] [[Category:Definitions]] [[Category:Cost_/_business_planning]]

Designing Buildings at 09:46, 10 April 2020

2020-04-10T09:46:02Z

← Older revision		Revision as of 09:46, 10 April 2020
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−	RICS Insight Paper ‘[https://www.rics.org/globalassets/rics-website/media/knowledge/research/insights/value-of-natural-capital-the-need-for-chartered-surveyors-rics.pdf Value of natural capital - the need for chartered surveyors]’ published by the Royal Institution of Chartered Surveyors in 2017 suggests ~~the~~ replacement cost valuation is a revealed preference method that draws on the revealed preferences of stakeholders.	+	RICS Insight Paper ‘[https://www.rics.org/globalassets/rics-website/media/knowledge/research/insights/value-of-natural-capital-the-need-for-chartered-surveyors-rics.pdf Value of natural capital - the need for chartered surveyors]’ published by the Royal Institution of Chartered Surveyors in 2017 suggests that replacement cost valuation is a revealed preference method that draws on the revealed preferences of stakeholders.

	Replacement cost valuation assesses: ‘the cost of replacing a natural benefit that has or may be lost with a man-made replacement. For example, the cost of water treatment to deal with peat degradation following drainage might represent the minimum ‘value’ of the original environment that has been lost or may be lost. This method illustrates the dangers of a common language as replacement cost, and in particular depreciated replacement cost, would also be a familiar method to property valuers but in a different guise – the replacement of like with broadly like rather than with a substitute.’		Replacement cost valuation assesses: ‘the cost of replacing a natural benefit that has or may be lost with a man-made replacement. For example, the cost of water treatment to deal with peat degradation following drainage might represent the minimum ‘value’ of the original environment that has been lost or may be lost. This method illustrates the dangers of a common language as replacement cost, and in particular depreciated replacement cost, would also be a familiar method to property valuers but in a different guise – the replacement of like with broadly like rather than with a substitute.’
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	= Related articles on Designing Buildings Wiki =		= Related articles on Designing Buildings Wiki =

		+	* Avertive expenditure.
	* Environmental value concepts.		* Environmental value concepts.
	* Hedonic pricing.		* Hedonic pricing.
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	* RICS.		* RICS.
	* Stated preference valuation.		* Stated preference valuation.
		+	* Travel cost methods.
	* Valuation.		* Valuation.
	* Value added.		* Value added.
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	* Whole life value.		* Whole life value.

−	[[Category:Definitions]] [[Category:Cost_/_business_planning]]	+	[[Category:Definitions]] [[Category:DCN_Definition]] [[Category:Cost_/_business_planning]]

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2020-04-10T09:44:18Z

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RICS Insight Paper ‘[https://www.rics.org/globalassets/rics-website/media/knowledge/research/insights/value-of-natural-capital-the-need-for-chartered-surveyors-rics.pdf Value of natural capital - the need for chartered surveyors]’ published by the Royal Institution of Chartered Surveyors in 2017 suggests the replacement cost valuation is a revealed preference method that draws on the revealed preferences of stakeholders.

Replacement cost valuation assesses: ‘the cost of replacing a natural benefit that has or may be lost with a man-made replacement. For example, the cost of water treatment to deal with peat degradation following drainage might represent the minimum ‘value’ of the original environment that has been lost or may be lost. This method illustrates the dangers of a common language as replacement cost, and in particular depreciated replacement cost, would also be a familiar method to property valuers but in a different guise – the replacement of like with broadly like rather than with a substitute.’

Other revealed preference methods include:

* Hedonic pricing.
* Travel cost methods.
* Avertive expenditure.
* Direct market valuation.

Approaches other than the revealed preference method include:

* Stated preference valuation.
* Value transfer/benefit transfer.

= Related articles on Designing Buildings Wiki =

* Environmental value concepts.
* Hedonic pricing.
* Natural capital.
* RICS.
* Stated preference valuation.
* Valuation.
* Value added.
* Value.
* Whole life value.

[[Category:Definitions]] [[Category:Cost_/_business_planning]]