Browsing by Subject "valuation"

This thesis explores predicting current prices of individual agricultural fields in Finland based on historical data. The task is to predict field prices accurately with the data we have available while keeping model predictions interpretable and well explainable. The research question is to find which out of several different models we try out is most optimal for the task. The motivation behind this research is the growing agricultural land market and the lack of publicly available field valuation services that can assist market participants to determine and identify reasonable asking prices. Previous studies on the topic have used standard statistics to establish relevant factors that affect field prices. Rather than creating a model whose predictions can be used on their own in every case, the primary purpose of previous works has indeed been to identify information that should be considered in manual field valuation. We, on the other hand, focus on the predictive ability of models that do not require any manual labor. Our modelling approaches focus mainly but not exclusively on algorithms based on Markov–Chain Monte Carlo. We create a nearest neighbors model and four hierarchical linear models of varying complexity. Performance comparisons lead us to recommend a nearest neighbor -type model for this task.

Agricultural and forest land use is critically affecting and effected by sustainability challenges both globally and in Finland. One way to aid the situation is through increasing the amount and comprehensiveness of rural land valuations. This can be done for instance by expanding the assessments of underrepresented ecosystem services with the help of participatory valuation methods. Albeit utilising existing methods for this purpose would already provide significant help, participatory valuations could be developed even further by applying virtual reality (VR) value elicitation. Although the utilisation of VR as a versatile study tool has been suggested by several authors, the studies and applications are thus far scarce, though slowly increasing. Hence, this thesis sets out to provide new insights into the implementation of VR and its unique benefits over other methods in the specific case of rural land valuations. The method employed in this paper is integrative literature review, as it gives opportunities to combine literature about other valuation methods and VR’s proven effects and reflect these on rural land valuation studies’ findings and stated future needs of this sector. Central findings demonstrate VR’s potential as a value elicitation tool in rural land valuations by virtue of its ability to offer immersive experiences and render almost any kind of environment accessible. Immersion can help in learning and subsequent value formation, consequently changing intent to behave as well as alter actual behaviour. Therefore, the use of VR can affect both stated and observable values and can affect value study results significantly. On the other hand, accessibility allows participation for all kinds of people regardless of limitations relating to knowledge level, or mental or physical capabilities. Hence, VR can grant access to significantly more people to nature areas otherwise rural, unfamiliar, hard to explore, hard or impossible to get to, or that exist in the past and in the future. In sum, by providing opportunities for increased amount and ease of participation, as well as holistic well-informed valuations, VR offers possibilities to support and drive the sustainability transition and transformation of Finnish rural land use sector. Although findings are promising, more research and practical application of VR are needed. Based on the potential of virtual reality in combination of the needs in rural land use sector, this thesis introduces some example scenarios where VR value elicitation could be used and be useful. The premises of all scenarios are rooted in existing studies, as this can help in gaining information on the applicability, as well as comparability of VR to other established value eliciting methods. This aims to enhance the robustness of VR as a study tool, as robustness can be seen as one of the weak points of VR value elicitation currently.

The archipelago is a unique urban green space and a popular place to visit in the city of Helsinki. Nevertheless, multiple factors, such as urban expansion, recreational and environmental values create pressure on the development of the Helsinki archipelago. Visitors form an important group of stakeholders considering the development and future of the area. This qualitative interview study examines what do the visitors value in the Helsinki archipelago and what value the islands’ biodiversity has for them. A value framework by Himes and Muraca (2018) was applied as a theoretical framework in this thesis. The values of visitors are divided into categories of instrumental, relational and intrinsic values. The data were collected via 20 semi-structured interviews at three different islands in Helsinki archipelago. The interviews were conducted in August 2021. The results are analyzed with thematic method and are supported with quantified data analysis by applying the co-occurrence analysis with Atlas.ti 9.0 software. For the visitors interviewed, the most frequently emphasized value of the Helsinki archipelago is related to nature. In general, the islands are seen as an accessible recreational day-trip destination, where nature provides an environment to relax and recover. Many visitors enjoy sharing the experience with family or friends – sometimes even with strangers. A contrast to the constructed urban environment is important for the urban residents. Bridges to, or excessive infrastructure on the islands are not desired. The main value of biodiversity in Helsinki archipelago emerges via new experiences that are different from elsewhere in the urban environment. Additionally, biodiversity facilitates an immersive nature experience that supports well-being. Biodiversity in the archipelago has also intrinsic value: The archipelago is a valuable place for the ecosystems and biota to flourish. For the visitors, the archipelago is a pristine natural environment worth maintaining as it is.