- Project plans
- Project activities
- Legislation and standards
- Industry context
- Specialist wikis
Last edited 09 Mar 2021
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:
 Related articles on Designing Buildings Wiki
Featured articles and news
Institute applauds funding initiatives but presses for additional retrofit and tax measures.
The switch from analogue to digital has begun.
The fourth industrial revolution is well underway.
Free online resource will offer guidance on conserving places and the planet during COP26.
Government allocates additional money for building new homes on derelict land.
Smart built environments can be designed around the requirements of real people.
Consistency is at the core of realistic strategies.
Entries being accepted until 20 November 2021.
Fuller’s legacy in the field of resource management.