Recreational And Aesthetic Value Of Water Using Hedonic Price Analysis
AbstractHistorically, water allocation focused on quantities demanded by consumptive uses. As quantity demand grows, efficient allocation among consumptive and nonconsumptive uses becomes more critical. This hedonic approach provides information regarding recreational and aesthetic (RA) value for a central Texas lake. The model indicates several statistically significant RA characteristics of housing; proximity is the most important. Waterfront properties command a premium, but marginal RA price falls rapidly with increasing distance. Marginal RA values are estimated for selected water levels and are found to have a lower marginal price per acre-foot than many agricultural uses.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Western Agricultural Economics Association in its journal Journal of Agricultural and Resource Economics.
Volume (Year): 20 (1995)
Issue (Month): 02 (December)
Demand and Price Analysis; Resource /Energy Economics and Policy;
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Breusch, T S & Pagan, A R, 1979. "A Simple Test for Heteroscedasticity and Random Coefficient Variation," Econometrica, Econometric Society, vol. 47(5), pages 1287-94, September.
- Godfrey, Leslie G., 1978. "Testing for multiplicative heteroskedasticity," Journal of Econometrics, Elsevier, vol. 8(2), pages 227-236, October.
- Pope, C. Arden, III & Stoll, John R., 1985. "The Market Value Of Ingress Rights For White-Tailed Deer Hunting In Texas," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 17(01), July.
- Cho, Seong-Hoon & Bowker, James Michael & Park, William M., 2006.
"Measuring the Contribution of Water and Green Space Amenities to Housing Values: An Application and Comparison of Spatially-weighted Hedonic Models,"
2006 Annual meeting, July 23-26, Long Beach, CA
21242, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
- Cho, Seong-Hoon & Bowker, James Michael & Park, William M., 2006. "Measuring the Contribution of Water and Green Space Amenities to Housing Values: An Application and Comparison of Spatially Weighted Hedonic Models," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 31(03), December.
- Parcell, Joseph L. & Kastens, Terry L. & Dhuyvetter, Kevin C. & Schroeder, Ted C., 2000. "Agricultural Economists' Effectiveness In Reporting And Conveying Research Procedures And Results," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 29(2), October.
- Ann Hodgkinson & Abbas Valadkhani, 2009.
"Community Valuations of Environmental Quality in Coastal Lakes: Lake Illawarra Case Study,"
The Economic Society of Australia, vol. 28(2), pages 155-168, 06.
- Hodgkinson, Ann & Valadkhani, Abbas, 2009. "Community Valuations of Environmental Qality in Coastal Lakes: Lake Illawarra Case Study," Economics Working Papers wp09-03, School of Economics, University of Wollongong, NSW, Australia.
- Nicholas Z. Muller, 2007. "Using Hedonic Property Models to Value Public Water Bodies: A Note Regarding Specification Issues," Middlebury College Working Paper Series 0721, Middlebury College, Department of Economics.
- Geoghegan, Jacqueline & Wainger, Lisa A. & Bockstael, Nancy E., 1997. "Spatial landscape indices in a hedonic framework: an ecological economics analysis using GIS," Ecological Economics, Elsevier, vol. 23(3), pages 251-264, December.
- Khalil, Allali, 2004. "Environmental Services, Externalities and Agriculture: The Case of Mountain Tourism in Morocco," eJADE: electronic Journal of Agricultural and Development Economics, Food and Agriculture Organization, Agricultural and Development Economics Division, vol. 1(1).
- Fishman, Kara J. & Leonard, Robert L. & Shah, Farhed A., 1999. "Valuing Water Quality Changes At Connecticut Lakes With Contingent Price Data," 1999 Annual meeting, August 8-11, Nashville, TN 21568, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (AgEcon Search).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.