The Valuation Perspective and Its Limits

The valuation perspective—the practice of assigning quantifiable value to urban assets, policies, and developments—has become central to urban planning and policy-making. Grounded in economic rationalism, valuation offers tools to evaluate trade-offs, allocate resources, and justify decisions. However, this paper argues that the valuation perspective, while powerful, has inherent limits. It often excludes non-monetary dimensions such as cultural heritage, social equity, and environmental integrity. Through a critical analysis of valuation methods and case applications, this paper highlights the consequences of overreliance on monetary valuation in urban governance. It concludes by suggesting complementary frameworks that integrate participatory, ethical, and qualitative perspectives, advocating for a more inclusive, pluralistic approach to urban planning.