Hedonic pricing
RICS Insight Paper ‘Value of natural capital - the need for chartered surveyors’ published by the Royal Institution of Chartered Surveyors in 2017, describes hedonic pricing as a revealed preference method of valuation that draws on the revealed preferences of stakeholders.
In hedonic pricing: 'property transaction data are analysed to determine the influence of the factor being valued, for example proximity to open space or location in a National Park. This relies on having sufficient data to produce a robust analysis.'
Other revealed preference methods include:
- Travel cost methods.
- Avertive expenditure (or avertive behaviour methods).
- Replacement cost.
- Direct market valuation.
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
Introducing or next Guest Editor Arun Baybars
Practising architect and design panel review member.
Quick summary by size, shape, test, material, use or bonding.
Types of rapidly renewable content
From forestry to agricultural crops and their by-products.
Terraced houses and the public realm
The discernible difference between the public realm of detached housing and of terraced housing.
Put digitalisation and sustainability at the core of curricula
Project management educators are urged.
Looking back at the influence of climate events
From a designer and writer: 'There are limits to growth but no limits to development'.
Terms, histories, theories and practice.
Biophilic design and natural light
Letting in the light and natural elements into spaces.
APM Programme Management Conference 2024
Strategies for Success.
Residential takes the reins as contract awards even out
Contracts down, but remain above the last quarter of 2023.
Celebrating Eid and the largest mud-brick building.
Barry Kingscote claims prestigious CIOB CMYA Award.
The British Mosque: an architectural and social history
The story of some 1,500 mosques or more in Britain.
Heat pump refrigerants, efficiencies and impacts
R12 to R1270 what are the differences?
Global heat pump market in 2023
Challenging times with positive but modest outlook.
Beyond the infrastructure pipeline
Opportunities and chokepoints.