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
One of England's grandest country houses.
Designing Buildings Wiki Newsletter survey
Take just two minutes to provide your feedback.
A review of foundation earthing
An update of standards and regulations are under consideration.
Exploring the key to the adoption of this abundant energy source.
Discussing facilities management with Kevin Borg
His clients have ranged from Liberace to St Nick to world-class athletes.
These tactical structures can be permanent or temporary.
ECA supports Value Toolkit pilot
Organisation recognises milestones of the project's next phase.
Welding and metalworking businesses must manage respiratory risks.
New report explores how regulations are being put into action.
The golden thread and BS 8644-1.
Bitumen binder may delay road surface deterioration.
A varied portfolio of internationally recognised buildings.
Threatened by housing and expanding universities.
Civil engineers put policy in action
Getting "boots on the ground" to make things happen.