Resource

Hedonic property pricing

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Resource description:

Mitigation cost-based valuation methods are a group of valuation methods that use the cost of actual measures to maintain ecosystem service provision as a proxy for the value of avoiding, mitigating or restoring the loss of services ecosystems provide.

Requirements:

  • Spreadsheet. Environmental modeling may be required to assess effectiveness of averting, mitigating and restoring actions on ecosystem services
  • Short-term (less than 1 year)
  • Low-demanding (less than 6 PMs)

Advantages:

  • ease and speed of use
  • draws on existing data
  • covers wide range of ES

Constraints:

  • is not a measure of welfare
  • uncertain effectiveness of mitigation, restoration and offsetting actions are not possible to quantify ex ante
  • when applied without basis in actual projects, ad hoc assumptions regarding environmental liability standards and potentially feasible actions are required

Licence:

  • Free, no licence

Development stage:

  • Full, working product