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What is Shadow Value of Natural Resource

Developing and Designing Circular Cities: Emerging Research and Opportunities
An example of a commodity requiring shadow pricing might be the value of a view from a window indispensable to the social well-being of a community when calculating the cost of a construction project which is going to block this view. By assigning a numerical financial value to the site, economic analysts can evaluate its value to a community with regard to the costs of new construction.
Published in Chapter:
Natural Approach to Circularity in Creation of Cities
DOI: 10.4018/978-1-7998-1886-1.ch001
Abstract
This chapter shows an economic canvas introduction in part that has direct influence on the architects' and urban planning approach. It is followed by a brief explanation to the historic approach to city making, as in the past most of the urbanised areas were circular and the re-use of existing building materials was a standard issue. With the age of industrialisation and introduction of modern techniques and technologies, this attitude has changed, and the linear economic development only quickened the speed with which former solutions were forgotten. General studies showing various past approaches to urban circularity will be presented. Special attention will be paid to the sustainable city as a dynamically changing development process.
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