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 and news
Conserving the Hilda Besse Building
Improving facilities, accessibility and overall appearance.
BSRIA IAQ topic guide published
Free download of TG 12/2021 available.
Electrotechincal mentors wanted
TESP works with The Youth Group to form skill sharing network.
OpenBuilt supply chain technology in development
Big tech collaborates on platform for the built environment.
Concerns raised over Future Buildings Standard
Letter signed by 21 organisations sent to MHCLG.
The infrastructure planning process
A look at the Government's strategic approach.
Steps to help reduce the spread of infection inside buildings.
Urban exploration and construction
This social media-centred hobby can be both dangerous and illegal.
Millwork wall treatment with a long and illustrious history.
Weekly workplace noise estimator tool
HSE introduces cumulative exposure calculator.
The Edwardians and their houses.
Cut off from civilian life for over 900 years.
Can net zero and levelling-up align?
Gaining green support from the carbon giants.
Receive the Designing Buildings newsletter
Click the button to subscribe.