Mass Valuation of Unimproved Land Value Case Study: Nairobi County

The purpose of this study is to investigate mass valuation of unimproved land value using machine learning techniques. The study was conducted in Nairobi County. It is one of the 47 Kenyan Counties under the 2010 constitution. A total of 1440 geocoded data points containing the market selling price of vacant land in Nairobi were web scraped from major property listing websites. These data points were adopted as dependent variables given as unit price of vacant land per square meter. The Covariates used in this study were categorized into Accessibility, Environmental, Physical and Socio-Economic Factors. Due to multi-collinearity problem present in the covariates, PLS and PCA methods were adopted to transform the observed features using a set of vectors. These methods resulted in an uncorrelated set of components that were used in training machine learning algorithms. The dependent variable and uncorrelated components derived feature reduction methods were used as training data for training different machine learning regression models namely;Random forest, support vector regression and extreme gradient boosting regression (XGboost regression). PLS performed better than PCA because the former maximizes the covariance between dependent and independent variables while the latter maximizes variance between the independent variables only and ignores the relationship between predictors and response. The first 9 components were identified as significant both by PLS and PCA methods. The spatial distribution of vacant land value within Nairobi County was consistent for all the three machine learning models. It was also noted that the land value pattern was higher in the central business district and the pattern spread northwards and westwards relative to the CBD. A relative low vacant land value pattern was observed on the eastern side of the county and also at the extreme periphery of Nairobi County boundary. From the accuracy metrics of R-squared and MAPE, Random Forest Regression model performed better than XGBoost and SVR models. This confirms the capability of random forest model to predict valid estimates of vacant land value for purposes of property taxation in Nairobi County.

Economic Valuation of Auctioned Tourist Hunting Blocks in Tanzania

Economic valuation of ecosystems is increasingly being recognized as an important exercise to inform sustainable utilization and conservation of natural assets. It helps in planning and establishing fair profit margins that accrue either directly or indirectly from the consumptive and non-consumptive uses of ecosystem goods and services. This paper is based on a study which estimated the economic values of tourist hunting blocks (HBs) in Tanzania using the Analytic Multicriteria Valuation Method (AMUVAM). The study used a sample size of 12 out of 24 vacant hunting blocks which were to be auctioned to potential hunting companies in December 2022. The economic values of HBs were estimated using the time horizon of 10 years (the mean tenure for winning company). The results show that the economic values ranged from USD 6,215,588 to USD 653,470,695 per hunting block and the Existence Value (EV) constituted about 19% of the Total Economic Value (TEV). EV ranged from USD 632,210 to USD 125,147,285. The study underscores the need for decisions to allocate ecosystems, such as HBs, to both direct and indirect uses, to be guided by a though understanding of their values. We further recommend building the capacity of staff charged with the role of managing and allocating uses of these ecosystems to enable them undertake economic valuation of ecosystems using both simple and more robust analytical tools, such as the GIS, relational databases, and worldwide websites based tools, like InVEST (Integrated Valuation of Environmental Services and Tradeoffs), ARIES (Artificial Intelligence for Ecosystem Services), and Co$ting Nature.

Estimating the value of a statistical life in China: A contingent valuation study in six representative cities

The value of a statistical life(VSL)is a crucial tool for monetizing health impacts.To explore the VSL in China,this study examines people’s willingness to pay(WTP)to reduce death risk from air pollution in six representative cities in China based on face-to-face contingent valuation interviews(n=3936)from March 7,2019 to September 30,2019.The results reveal that the WTP varied from CNY 455 to 763 in 2019(USD 66-111),corresponding to a VSL range of CNY 3.79-6.36 million(USD 549395-921940).The VSL in China in 2019 is estimated to be CNY 4.76 million(USD 689659).The statistics indicate that monthly expenditure levels,environmental concerns,risk attitudes,and assumed market acceptance,which have seldom been dis‐cussed in previous studies,significantly impact WTP and VSL.These findings will serve as a reference for ana‐lyzing mortality risk reduction benefits in future research and for policymaking.

Evaluation and Quantitative Attribution Analysis of Water Yield Services in the Peak-cluster Depression Basins in Southwest of Guangxi,China

Karst environmental issues have become one of the hot spots in contemporary international geological research. The same problem of water shortage is one of the hot spots of global concern. The peak-cluster depression basins in southwest of Guangxi is an important water connotation and ecological barrier areas in the Pearl River Basin of China. Thus, studying the spatial and temporal variations and the influencing factors of its water yield services is critical to achieve the sustainable development of water resources and ecological environmental protection in this region. As such, this paper uses the Integrated Valuation of Ecosystem Services and Tradeoffs(InVEST) model to assess the spatial and temporal variabilities of water yield services and its trends in the peak-cluster depression basins in southwest of Guangxi from 2000 to 2020. This work also integrates precipitation(Pre), reference evapotranspiration(ET), temperature(Tem), digital elevation model(DEM), slope, normalized difference vegetation index(NDVI), land use/land cover(LULC) and soil type to reveal the main factors that influence water yield services with the help of Geodetector. Results show that: 1) in time scale,the total annual water yield in the study area show a fluctuating and increasing trend from 2000 to 2020, with a growth rate of 7.3753 × 10^(8)m^(3)/yr, and its multi-year average water yield was 538.07 mm;2) in spatial pattern, with high yield areas mainly distributed in the south of the study area(mainly including Shangsi County, Pingxiang City, Ningming County, Longzhou County and Jingxi County), and low yield areas mainly distributed in Baise City and Nanning City;3) the dominant factor of water yield within karst and non-karst landforms is not necessarily controlled by precipitation, and the explanation degree of DEM factors in karst areas is significantly higher than that in non-karst areas;4) amongst the climatic factors, Pre, ET and Tem are dominant in the spatial pattern of region water yield capacity. among which Pre has the highest explanatory power for the spatial heterogeneity of annual water production, with q values above0.8, and each driver showed a significant interaction on the spatial distribution of water yield, with Pre exhibiting the strongest interaction with LULC.

Evaluation of the water conservation function in the Ili River Delta of Central Asia based on the InVEST model

The Ili River Delta(IRD)is an ecological security barrier for the Lake Balkhash and an important water conservation area in Central Asia.In this study,we selected the IRD as a typical research area,and simulated the water yield and water conservation from 1975 to 2020 using the water yield module of the Integrated Valuation of Ecosystem Services and Tradeoffs(InVEST)model.We further analyzed the temporal and spatial variations in the water yield and water conservation in the IRD from 1975 to 2020,and investigated the main driving factors(precipitation,potential evapotranspiration,land use/land cover change,and inflow from the Ili River)of the water conservation variation based on the linear regression,piecewise linear regression,and Pearson's correlation coefficient analyses.The results indicated that from 1975 to 2020,the water yield and water conservation in the IRD showed a decreasing trend,and the spatial distribution pattern was"high in the east and low in the west";overall,the water conservation of all land use types decreased slightly.The water conservation volume of grassland was the most reduced,although the area of grassland increased owing to the increased inflow from the Ili River.At the same time,the increased inflow has led to the expansion of wetland areas,the improvement of vegetation growth,and the increase of regional evapotranspiration,thus resulting in an overall reduction in the water conservation.The water conservation depth and precipitation had similar spatial distribution patterns;the change in climate factors was the main reason for the decline in the water conservation function in the delta.The reservoir in the upper reaches of the IRD regulated runoff into the Lake Balkhash,promoted vegetation restoration,and had a positive effect on the water conservation;however,this positive effect cannot offset the negative effect of enhanced evapotranspiration.These results provide a reference for the rational allocation of water resources and ecosystem protection in the IRD.

Assessing the Economic Value of Vernacular Architecture of Mountain Regions Using Contingent Valuation

Human pressure on mountain resources poses certain threats to their natural and man-made environment. Although there are many parameters involved, one of the driving forces behind this situation is the emphasis given so far only to the market value of mountain goods and services, ignoring the true social and environmental costs of using mountain resources. Towards this direction, the use of non-market valuation techniques could prove to be beneficial. Bearing in mind the above remarks, the paper presents an application of the Contingent Valuation Method, which aims at estimating the monetary value of a mountain settlement’s vernacular architecture, namely Metsovo. For this purpose, the survey focuses on Metsovo visitors’ willingness to pay a single annual voluntary contribution to an institution that would be founded in order to undertake all necessary actions required to preserve the town’s traditional character. The results are very promising and indicate that vernacular architecture holds a significant economic value that could justify the implementation of appropriate policies towards the protection of vernacular settlements in mountain areas.

Estimating the Outdoor Recreational Value of Lavizan Jungle Park of Tehran Using Contingent Valuation Method (CV)

Natural resources and its condition have always had a key role in economic and social developments of different societies around the world and these resources are considered as natural capital and bankroll of economic growth and development for every country. In the present study, we have evaluated the outdoor recreational value of Lavizan Jungle Park of Tehran and its visitors’ willingness to pay per visit (WTP) by using Contingent Valuation method (CV) and two-dimensional choice questionnaires. We used 125 questionnaires and logit model in order to evaluate the WTP. The purpose of this study is to measure individuals’ willingness to pay for visiting and preserving the environment of Lavizan Park as well as indicating the relationship between influential factors on their WTP. Estimating the value of natural resources is very important in making environmental preservation policies because preserving these natural attractions, as a part of ecotourism, is highly important. JEL Classification: Q29, Q51, C25.

Effect and satisfaction of outpatient services by precision valuation reservation registration

BACKGROUND Due to improvements in living standards,people are now paying more attention to their health.In China,more patients choose to go to large or well-known hospitals,which leads to constant crowding of outpatient clinics in these hospitals.AIM To establish precision valuation reservation registration aimed at shortening waiting time,improving patient experience and promoting the satisfaction of outpatients and medical staff.METHODS On the basis of the implementation of a conventional appointment system,more reasonable time intervals were set for different doctors by evaluating the actual capacity of each doctor to receive patients,and appointment times were made more accurate through intervention.The change in consultation waiting time of patients was then compared.Correlations between the consultation waiting time of patients and the satisfaction of patients or satisfaction of medical staff were analyzed.RESULTS After precision valuation reservation registration,the average consultation waiting time of patients reduced from 18.47 min to 10.11 min(t=8.90,P<0.001).The satisfaction score of patients increased from 91.33 to 96.27(t=-8.62,P<0.001),and the satisfaction score of medical staff increased from 90.51 to 96.04(t=-10.50,P<0.001).The consultation waiting time of patients was negatively correlated with their satisfaction scores(γ=-0.89,P<0.001).The consultation waiting time of patients was also negatively correlated with medical staff satisfaction scores(γ=-0.96,P<0.001).CONCLUSION Precision valuation reservation registration significantly shortened outpatient waiting times and improve the satisfaction of not only patients but also medical staff.This approach played an important role in improving outpatient services,provided a model that is supported by relevant evidence and could continuously improve the quality of management.Precision valuation reservation registration is worth promoting and applying in the clinic.

Teaching Reform of Courses for Ideological and Political Education Based on Simulation Information Technology:Taking the Course Group of Engineering Valuation in Jiangxi Normal University for Example

In higher engineering education,professional courses and ideological and political theory courses go in the same direction,which is an important task of the current professional curriculum construction.This paper introduces the key and difficult problems in the teaching content of the course Engineering Valuation in the Department of Engineering Management and Real Estate of Jiangxi Normal University.Based on the characteristics of simulation information technology such as BIM and VR and the differences of ideological and political elements,it updates and improves the cases of courses for ideological and political education,gives full play to the synergistic effect,and realizes the"triple"talent training goal of knowledge,ability and literacy.

Wetland Economic Valuation Approaches and Prospects in China

Ecosystem services valuation seeks to increase the social relevance of ecosystem characteristics, the underlying biological mechanisms that support services, by making the contribution of ecosystems to human well-being explicit. Economic valuation can help management by clarifying the full range of benefits and costs of proposed management actions. In the past two decades, economic valuation of wetland ecosystem services has become one of the most significant scientific priorities for wetland protection. In this paper, we provide an overview of ecosystem services, and summarize the main interdisciplinary approaches to measure and value wetland ecosystem services. We identified four main methodological gaps preventing progress on wetland valuation of ecosystem services in China, which are: 1) confusion on terminology like intermediate and final ecosystem services, 2) lack of ecological production functions to link ecosystem characteristics to final ecosystem services, 3) static valuation making it difficult to evaluate the trade-offs and synergies among ecosystem services, and 4) lack of clear guidance on relating ecological compensation programs to conservation targets. Overcoming these gaps is important to inform wetland compensation mechanisms and conservation policies. We propose future research on wetland ecosystem services in China should be focused on: 1) defining final ecosystem services based on beneficiary preferences and underlying biophysical mechanisms, 2) establishing wetland monitoring programs at specific sites to collect data on final ecosystem service indicators and ecosystem characteristic metrics to create ecological production functions for economic valuation and rescaling techniques, and 3) incorporating wetland ecosystem service values into decision-making processes to inform wetland management.

Valuation of Economic Benefit of Regulatory Detailed Planning-- A Case Study of Unit BSP0-2601 at Shengqiao Community, Yuepu Town, Baoshan District,Shanghai City

Ideas and methods of evaluating economic benefit of regulatory detailed planning were introduced firstly,and then the framework and concrete steps of valuation of economic benefit of regulatory detailed planning were analyzed.Afterwards,the economic benefit of regulatory detailed planning was valued by using case analysis method.Finally,some suggestions of application were proposed,such as introducing the valuation of economic benefit of a third party into the adjustment scheme of regulatory detailed planning,and publicizing the scheme of regulatory detailed planning and valuation results at the same time.

Economic Valuation of Health Impact of PM_(10) Pollution in Beijing from 2001 to 2006

In light of the practical need for research to inform policy in Beijing,this study evaluates the economic cost of the impact of PM 10 pollution in Beijing from 2001 to 2006,taking health as the main impact,and mortality as the main outcome.Based on the literature review,this study adopts relatively conservative parameters as the basis for calculating the health impacts.It concludes that nearly 30%of mortality among registered residents above age 30 in Beijing can be attributed to PM 10 pollution,and that the economic cost equals 0.8%-1.2%of the city's GDP over the same period.This is lower than the results of previous studies,but still high enough to warrant a commitment to solve the city's air pollution problem.

Valuation of forest carbon sinks in China within the framework of the system of national accounts

为了更好支持森林资源管理并且加强森林碳的开发，压制 marketization，这份报纸在中国从最近的森林资源库存基于国家帐号(SNA ) 和数据的一个系统从 2003 ～ 2008 学习了森林碳水池的财务。学习在 RMB 817.13 的一个总数计算了森林碳股票的价值 ? 映吗？

Estimation of conservation value of myrtle(Myrtus communis)using a contingent valuation method:a case study in a Dooreh forest area,Lorestan Province,Iran

Background:Around 2000 plant species occur naturally in Lorestan Province of which 250 species are medicinal and myrtle is one of them.Myrtle is a shrub whose leaves and fruits have medicinal value and thus,if managed and harvested properly,could produce sustained economic benefits.In recent years,however,over half of the myrtle site areas was destroyed,due to inappropriate management and excessive harvesting practices.Thus,coming up with a practical harvesting approach along with identifying those factors damaging the sites,seems to be very crucial.Methods:In our investigation,we calculated the conservation value per hectare of myrtle in the Dooreh forest area in Lorestan Province.Using the Contingent Valuation(CV) and Double Bounded Dichotomous Choice(DBDC) methods,we determined the willingness to pay(WTP) for myrtle conservation.The WTP was estimated with a logit model for which indices were obtained based on a maximum precision criterion.Results:The results showed that 86.67 per cent of people were willing to pay for the conservation of these myrtle sites.Average monthly WTP per family was calculated as $0.79.The annual conservation value in terms of WTP for the preservation of the myrtle sites in Dooreh was estimated as $102,525.Among the variables of the model presented,education had a positive impact,while the amount proposed for payment and family size had a negative impact on the WTP.Conclusions:Our estimate of the value of myrtle conservation should provide justification for policy makers and decision making bodies of natural resources to implement policies in order to conserve the natural sites of this species more effectively.

Filtered Ring Derived from Discrete Valuation Ring and Its Properties

In this paper we show that if R is a discrete valuation ring, then R is a filtered ring. We prove some properties and relation when R is a discrete valuation ring.

Real Option and Valuation of CNOOC Ltd

This paper introduces a real option approach to valuation of oil companies and uses the real option pricing model to value CNOOC Ltd. at the time of its IPO. The empirical result shows that the option pricing value of CNOOC Ltd. exceeds its IPO price at about 21%.

Assessment of Initial Investment Valuation Methodology of Brazilian Power Transmissions Auction

This paper aims to assess the Initial Investment Valuation Methodology of the local regulator, facing the results of auctions, due to the high occurrence of low clearing prices observed from 2003 to 2008 and the high percentage of auctions without any bidder recently. The regulator investment forecasted defines the maximum value of Yearly Allowed Revenue and the bidder that offers the lowest YAR value wins the auction. The first type of analysis considers project cost, location, execution deadline, transmission line extension and type of all actions from 1999 to 2015, totalling about 3.361 billion USD. It was not found any correlation of those variables and the result of the actions. The second analysis compared the equipment and the additional costs breakdown of the regulator investment forecast with the real investment in projects from 2009 to 2013 and it rarely surpasses 5%. Suggestions are proposed based on the analysis.

Measuring Recreational Value of World Heritage Sites Based on Contingent Valuation Method:A Case Study of Jiuzhaigou

World heritage possesses various kinds of use value and non-use value. Measuring the recreational value of world heritage sites is a key issue in the heritage tourism. This paper employs Contingent Valuation Method (CVM), which is an evaluation instrument on the basis of tourists′ attitude and preference, to measure the recreational value of Jiuzhaigou, one of the World Natural Heritage sites in China, and analyzes the biases in the survey. The results show that: 1) In 2009, Jiuzhaigou′s recreational value was 3.46×108 yuan (RMB), and the per capita Willingness to Pay (WTP) was 137.31 yuan by CVM. Compared with the results of other methods, this result is significantly low. 2) Among the factors that influence Jiuzhaigou tourists′ WTP, psychological perception factors have the greatest effect while demographic and socio-economic characteristics have a small effect on WTP. 3) The virtuality in CVM creates biases both from CVM itself and in the procedures that CVM was implemented. The former includes hypothetical bias, information bias, protest response bias, and strategic bias; and the latter includes the questionnaire design, population and sample definition, sampling and data processing. The paper analyses those biases and illustrates their potential in-fluences on the accuracy of CVM measurement. 4) Although there are various defects in CVM measurement, it is still an effective valuation method.

Altruism and Willingness to Pay for Environmental Goods: A Contingent Valuation Study

This study aims to reexamine the relationship between altruistic orientation and individuals’ willingness to pay (WTP) for environmental goods using contingent valuation. Altruistic motivation is known to be an important determinant of WTP. In the attitudinal scales used in previous research, the context of questions about altruistic motivations is specific to environmental issues. Instead, this study employs other psychological scales that measure altruistic orientation in a more general context, independently from environmental issues. The result is consistent with previous studies, but the impact of altruistic orientation is rather limited. This difference suggests that the context of questions may enhance respondents’ consciousness about the environment and bump up the value of their WTP.

Development of a Web-Based Geographic Information System for Mass Land Valuation: A Case Study of Westlands Constituency, Nairobi County

The development of a web-based Geographic Information System for mass property valuation was the main focus of this research. The developed web GIS allows effective dissemination, extraction and analysis of mass land valuation information over the Internet. It also allows for automation of the mass property valuation process by compiling a centralized mass valuation roll database. The Westlands Constituency, one of the administrative regions of the Nairobi City County was used as a case study. The research focused on automation of the mass property valuation roll by creating a centralized database that is accessible by all users on the web-based GIS portal. This was done by customizing and integrating a web-based GIS system based on open source QuantumGIS, GeoServer and PostgreSQL/PostGIS as a relational database. Leaflets APIs were used for the development of an interactive and friendly geographic user interface. The developed system enables users to view and interact with the spatial data. This improves the efficiency and effectiveness of the decision making process and data sharing for mass property valuation and optimal property taxation purposes.