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Estimating the Cost of Preserving Private Lands in Florida: An Hedonic Analysis

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Author Info

  • Larkin, Sherry L.
  • Alavalapati, Janaki R.R.
  • Shrestha, Ram K.

Abstract

Florida’s open-space land-acquisition program is one of the most aggressive in the country, with $3.7 billion paid for 3.8 million acres since 1972. Using data from the Conservation and Recreational Lands (CARL) program, hedonic analyses found that acquiring private lands with valuable natural resources, habitat for rare species, and important historical sites for public preservation is more costly. Development potential and pressure also increased acquisition costs. The presence of additional endangered natural elements and needing to contract with additional landowners, however, were found to decrease the cost. Results provide a basis for landowners and land-acquisition agencies to negotiate.

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File URL: http://purl.umn.edu/43730
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Bibliographic Info

Article provided by Southern Agricultural Economics Association in its journal Journal of Agricultural and Applied Economics.

Volume (Year): 37 (2005)
Issue (Month): 01 (April)
Pages:

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Handle: RePEc:ags:joaaec:43730

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Web page: http://www.saea.org/jaae/jaae.htm
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Related research

Keywords: development pressure; Florida Forever; hedonic prices; implicit land values; land conversion; Preservation 2000; Land Economics/Use; Q24;

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References

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  1. Mendelsohn, Robert & Nordhaus, William D & Shaw, Daigee, 1994. "The Impact of Global Warming on Agriculture: A Ricardian Analysis," American Economic Review, American Economic Association, vol. 84(4), pages 753-71, September.
  2. Lansford, Notie H., Jr. & Jones, Lonnie L., 1995. "Marginal Price Of Lake Recreation And Aesthetics: An Hedonic Approach," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 27(01), July.
  3. Shultz, Steven D & King, David A, 2001. "The Use of Census Data for Hedonic Price Estimates of Open-Space Amenities and Land Use," The Journal of Real Estate Finance and Economics, Springer, vol. 22(2-3), pages 239-52, March-May.
  4. P. Joan Poor & Kevin J. Boyle & Laura O. Taylor & Roy Bouchard, 2001. "Objective versus Subjective Measures of Water Clarity in Hedonic Property Value Models," Land Economics, University of Wisconsin Press, vol. 77(4), pages 482-493.
  5. Cynthia J. Nickerson & Lori Lynch, 2001. "The Effect of Farmland Preservation Programs on Farmland Prices," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 83(2), pages 341-351.
  6. Espey, Molly & Owusu-Edusei, Kwame, 2001. "Neighborhood Parks And Residential Property Values In Greenville, South Carolina," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 33(03), December.
  7. Tyrvainen, Liisa & Miettinen, Antti, 2000. "Property Prices and Urban Forest Amenities," Journal of Environmental Economics and Management, Elsevier, vol. 39(2), pages 205-223, March.
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Cited by:
  1. Mashour, Terri & Alavalapati, Janaki & Matta, Rao & Larkin, Sherry & Carter, Doug, 2005. "A hedonic analysis of the effect of natural attributes and deed restrictions on the value of conservation easements," Forest Policy and Economics, Elsevier, vol. 7(5), pages 771-781, August.

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