Travel cost methods of 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 travel cost methods of valuation are revealed preference methods that draw on the revealed preferences of stakeholders.
In travel cost methods the value of a site to visitors can be assessed, for example, in terms of how much they have paid to reach the site and how many visitors the site receives, or by the costs incurred for school visits. Surveys are used to obtain this information.
Other revealed preference methods include:
- Hedonic pricing.
- Avertive expenditure (or avertive behaviour method).
- 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
Check out some of the best features and news from Designing Buildings as well as key stories from around the web.
Building Safety Newsletter from MHCLG.
An extraordinary record of steel engineering worldwide.
Households living near new pylons to save on bills.
ECA warns growth must not outpace grid capacity or skills.
The role of the client and decision making
CIOB response to built environment professions call for evidence.
Construction's sustainability reporting revolution
Tracking upfront embodied carbon with digital tools.
ECA welcomes procurement reforms
Public spending must back British jobs and skills.
Campaigning for Edinburgh: the Cockburn Association 1875-2049
The role of the civic voice in protecting character. Book review.
CIOB photography competition is open for entries.
ECA Edmundson apprentice of the year award
Finalists announced.
Major new study exposes serious knowledge gaps.
Generating energy from internal light as well as sunshine.