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The Capitalization of Wildlife Recreation Income into Farmland Values

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  • Henderson, Jason R.
  • Moore, Sean
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    Abstract

    Wildlife recreation - hunting, fishing, and wildlife watching - appears to be an increasingly important pastime for many Americans. From 1991-2001, U.S. wildlife recreation expenditures surged from $77 billion to $108 billion in 2001 dollars. Land lease and ownership expenditures by wildlife recreation participants are also rising and appear to be capitalized into farmland values. This paper analyzes the impact of hunting lease rates on farmland values in Texas. The results indicate that counties with higher wildlife recreation income streams have higher land values.

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    Bibliographic Info

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

    Volume (Year): 38 (2006)
    Issue (Month): 03 (December)
    Pages:

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    Handle: RePEc:ags:joaaec:43784

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

    Keywords: farmland values; wildlife recreation; Land Economics/Use; Q15;

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    References

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    1. Bastian, Chris T. & McLeod, Donald M. & Germino, Matthew J. & Reiners, William A. & Blasko, Benedict J., 2002. "Environmental amenities and agricultural land values: a hedonic model using geographic information systems data," Ecological Economics, Elsevier, vol. 40(3), pages 337-349, March.
    2. McGranahan, David A., 1999. "Natural Amenities Drive Rural Population Change," Agricultural Economics Reports 33955, United States Department of Agriculture, Economic Research Service.
    3. Chavas, Jean-Paul & Shumway, C. Richard, 1982. "A Pooled Time-Series Cross-Section Analysis Of Land Prices," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 7(01), July.
    4. Jordan Rappaport, 2004. "Moving to Nice Weather," Econometric Society 2004 North American Summer Meetings 188, Econometric Society.
    5. Herriges, Joseph A. & Shogren, Jason F., 1992. "The Implicit Value of Corn Base Acreage," Staff General Research Papers 10788, Iowa State University, Department of Economics.
    6. 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.
    7. Barry K. Goodwin & Ashok K. Mishra & Fran�ois N. Ortalo-Magné, 2003. "What's Wrong with Our Models of Agricultural Land Values?," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 85(3), pages 744-752.
    8. Leah J. Tsoodle & Bill B. Golden & Allen M. Featherstone, 2006. "Factors Influencing Kansas Agricultural Farm Land Values," Land Economics, University of Wisconsin Press, vol. 82(1), pages 124-139.
    9. Elena G. Irwin & Nancy E. Bockstael, 2001. "The Problem of Identifying Land Use Spillovers: Measuring the Effects of Open Space on Residential Property Values," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 83(3), pages 698-704.
    10. David L. Chicoine, 1981. "Farmland Values at the Urban Fringe: An Analysis of Sale Prices," Land Economics, University of Wisconsin Press, vol. 57(3), pages 353-362.
    11. J. S. Shonkwiler & J. E. Reynolds, 1986. "A Note on the Use of Hedonic Price Models in the Analysis of Land Prices at the Urban Fringe," Land Economics, University of Wisconsin Press, vol. 62(1), pages 58-63.
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    Cited by:
    1. Zakrzewicz, Christopher J. & Brorsen, B. Wade & Briggeman, Brian C., 2011. "Comparison of Alternative Sources of Farmland Values," 2011 Annual Meeting, July 24-26, 2011, Pittsburgh, Pennsylvania 103758, Agricultural and Applied Economics Association.
    2. Henderson, Jason R. & Gloy, Brent A., 2008. "The Impact of Ethanol Plants on Land Values in the Great Plains," Proceedings: 2007 Agricultural and Rural Finance Markets in Transition, October 4-5, 2007, St. Louis, Missouri 48148, Regional Research Committee NC-1014: Agricultural and Rural Finance Markets in Transition.
    3. Borchers, Allison & Ifft, Jennifer & Kuethe, Todd, 2013. "Linking the Price of Agricultural Land to Use Values and Amenities," 2014 Allied Social Science Association (ASSA) Annual Meeting, January 3-5, 2014, Philadelphia, PA 161651, Agricultural and Applied Economics Association.
    4. Carole. Ropars-Collet & Philippe Le Goffe, 2009. "Modèle bioéconomique appliqué à la gestion du sanglier, dégâts agricoles et prix des chasses en forêt domaniale," Post-Print hal-00730019, HAL.
    5. Reed, L.L. & Kleynhans, Theo E., 2009. "Agricultural land purchases for alternative uses – evidence from two farming areas in the Western Cape province, South Africa," Agrekon, Agricultural Economics Association of South Africa (AEASA), vol. 48(3), September.

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