DOI: https://doi.org/10.33917/es-3.177.2021.100-109

In modern unstable economic conditions, when valuating unique or capital-intensive objects, it is more often value in use (investment one or user one) is determined. In this case, the calculations are based on the income approach, linking the future incomes of the asset under valuation and the risks of not receiving them. The article describes the latest advances in calculating techniques previously unknown in world practice, covering the variability of the capitalization rate over time and refined formulas for the risk build-up method.

DOI: 10.33917/es-4.170.2020.96-103

Economic evaluation is often based on the concept of “market value”. The article shows that definition of market value contains clarifications (details) regarding the evaluation object, the market nature of the valuation object, participants in this market, which cannot be performed in real conditions. The desire to bring the appraiser’s activities closer to reality gave rise to other types of value — both exchange ones (market value in current use, fair, special, mortgage values) and consumer values (investment, use value). It is noted that this is especially justified in relation to evaluation of real estate and enterprises

Precise identification of valuation object was always important, but under emerging markets conditions it was proposed to pay special attention to it.