Direct market valuation
RICS Insight Paper ‘Value of natural capital - the need for chartered surveyors’ published by the Royal Institution of Chartered Surveyors in 2017 suggests that direct market valuation is a revealed preference method that draws on the revealed preferences of stakeholders.
Direct market valuation approaches: ‘can be based on transactional data, production costs or replacement costs. This can be extended to the cost of avoiding damage to an ecosystem, or the cost of replacing a damaged or destroyed service. This extends to production function based approaches where, for example, the ‘value’ of an ecosystem service can be gauged by the value of the final (marketable) product to which it gives rise (for example water for consumption).’
Other revealed preference methods include:
Approaches other than the revealed preference method include:
- Stated preference valuation.
- Value transfer/benefit transfer.
[edit] Related articles on Designing Buildings Wiki
Featured articles and news
Adding civility to civil engineering
Framework examines social value of projects.
An open ended procurement method
RfX or Request for [fill in the blank].
Organisation establishes Equality, Diversity, Inclusion taskforce.
The new deal for infrastructure
Government announces plans for new building projects.
Outsourcing method to procure and manage supplies.
Joint support of Local Authority Historic Environment and Conservation Services.
The Chesapeake Bay Bridge-Tunnel is an outstanding achievement.
Buildings of the interwar years. Book review.
Protecting irreplaceable heritage
Ireland’s climate change sectoral adaptation plan.
Rethinking the acoustics of the office.
Various deterrent measures can help managers deal with avian problems.
Groups send message to government.
Observations from new CIOB president
Mark Beard FCIOB shares thoughts on changes in the construction industry.
The three layers in modern laminates have specific functions.
Uniting on behalf of digital transformation
The CIOB and UK BIM Alliance announce formal affiliation.