Incorporating Health and Social Benefits with User Benefits in the Valuation of Urban Realm Improvements
R Sheldon, Accent, UK; C Dosad, Colin Buchanan and Partners, UK
This project explores new methods for valuing both health and social benefits from improvements in the urban realm.
'Valuing Urban Realm' is a Transport for London project which comprises a set of studies designed to create a coherent evaluation methodology for determining the financial values of improvements to urban public spaces generally. In this third phase of research, attention is focussed on the health and social benefits of improvements to urban realm. The
research reported here will draw on our various findings, including: desktop research on the variety of health and social benefits and how they are to be measured; and findings from studies designed to determine willingness-to-pay for health and social benefits in urban realm improvements. We discuss the development of a combined revealed/stated preference valuation framework. Based on the work above, we report on our progress in creating a coherent and holistic methodology package to value the benefits of urban realm improvements, along with a manual providing guidance and worked examples.
This project provides many new areas of methodological innovation, particularly in linking transport planning and appraisal to health. It explores new methods for valuing both health and social benefits from improvements in the urban realm. We use both novel stated preference methods as well as new hybrid revealed/stated preference methods to value these benefits, benefits which heretofore have not featured in transport project appraisal.
The study also is one of the first to use stated preference methods to employ individual and citizen valuations to see how respondents value features of the urban realm that are good for the community as a whole, and not just for themselves.
Association for European Transport