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
For the World Autism Awareness Month of April.
70+ experts appointed to public sector fire safety framework
The Fire Safety (FS2) Framework from LHC Procurement.
Project and programme management codes of practice
CIOB publications for built environment professionals.
Sustainable development concepts decade by decade.
The regenerative structural engineer
A call for design that will repair the natural world.
Buildings that mimic the restorative aspects found in nature.
CIAT publishes Principal Designer Competency Framework
For those considering applying for registration as a PD.
BSRIA Building Reg's guidance: The second staircase
An overview focusing on aspects which most affect the building services industry.
Design codes and pattern books
Harmonious proportions and golden sections.
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.