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
Prioritising tax considerations.
Reviewing the Double Diamond Design model
The four D creative process: discover, define, develop and deliver.
National Cyber Security Centre initiative is announced.
The impact of COVID-19 on global HVAC&R markets
Reviewing trends and projections.
Legislation will establish initiatives to move towards net zero.
Status determination statement
How to document contractor employment status.
Social distancing goes high tech
Tech tools to help manage people and space post-pandemic.
Eclectic Edwardian architecture
A style that ranges from mock Tudor to arts and crafts to the 'Wrenaissance'.
Free guide from Secured by Design.
Building Back Better: Circularity
BREEAM strategy for sustainability and the circular economy.
Free tool to improve the construction programming process.
Building services verification
Are buildings doing what they're supposed to be doing?
Cities with quick access to everything by foot or bike.
The pressures and pinch points of global destinations.