Valuation

This document is a first conceptual discussion and a proposal to formalize the inclusion of the valuation of cultural assets after a disaster. In recent years, ECLAC has attempted on several occasions to assess the damage and loss of cultural property following disasters. The document first analyzes the existing debate on the valuation of cultural goods and services, describes the characteristics of cultural goods and their market and non-market values. It then proceeds to describe some valuation methods that have been applied to cultural assets in other contexts, including the quasi-valuation method, and describes the damage assessment process. concludes the possibility of applying one or more of these methods as part of the ECLAC disaster impact assessment methodology and advances some recommendations and areas of research. The document also includes an example of application of the contingent valuation method in a particular case (Fes Medina in Morocco). (59pp)