Other methods of valuation
The CV, HP and TC methods account for the vast majority of practical applications. However, reference should be made to other methods of valuation as they appear in the economics, leisure and tourism literature. In the environmental field, the methods outline below have been applied mostly to investigate the effect of pollution mitigation, but they are equally relevant to measuring the effect on environmental quality of economics activity. In this respect they can be applied to the tourism product base, particularly natural resources, by indicating the cost of the adverse impact of the sector’s operations. Production function approaches are indirect methods of valuing non-priced goods and services.