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Measuring the Nonmarket Value of Massachusetts Agricultural Land: A Case Study

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  • Halstead, John M.
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    Abstract

    Agricultural land provides a variety of " nonmarket" services to the Commonwealth, including wildlife habitat, scenic vistas, and recreation . This study utilizes an iterative bidding game to estimate willingness-to-pay of residents of three central Massachusetts counties to preserve state agricultural land. Through the use of these data, estimates of the value of these nonmarket amenities are derived so that a fuUer measure of the value of agricultural land can be obtained. This information may be useful to policy makers administering such programs as the Agricultural Preservation Restriction Act (Chapter 780) which are designed to arrest the conversion of Massachusetts farmland to urban uses.

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    File URL: http://purl.umn.edu/159272
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    Bibliographic Info

    Article provided by Northeastern Agricultural and Resource Economics Association in its journal Northeastern Journal of Agricultural and Resource Economics.

    Volume (Year): 13 (1984)
    Issue (Month): 1: (April)
    Pages:

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    Handle: RePEc:ags:nejare:159272

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    Web page: http://www.narea.org/
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    Keywords: Agribusiness; Land Economics/Use;

    References

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    1. Mark R. Correll & Jane H. Lillydahl & Larry D. Singell, 1978. "The Effects of Greenbelts on Residential Property Values: Some Findings on the Political Economy of Open Space," Land Economics, University of Wisconsin Press, vol. 54(2), pages 207-217.
    2. Brookshire, David S. & Ives, Berry C. & Schulze, William D., 1976. "The valuation of aesthetic preferences," Journal of Environmental Economics and Management, Elsevier, vol. 3(4), pages 325-346, December.
    3. Randall, Alan & Ives, Berry & Eastman, Clyde, 1974. "Bidding games for valuation of aesthetic environmental improvements," Journal of Environmental Economics and Management, Elsevier, vol. 1(2), pages 132-149, August.
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    Cited by:
    1. Wichelns, Dennis & Nakao, Megumi, 2001. "Examining Changes In Land Use After The Sale Of Development Rights On Farms In Rhode Island," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 30(2), October.
    2. Lynch, Lori & Duke, Joshua M., 2007. "Economic Benefits of Farmland Preservation: Evidence from the United States," Working Papers 7342, University of Maryland, Department of Agricultural and Resource Economics.
    3. Skaggs, Rhonda K. & Harper, Wilmer M., 1999. "Predicting Land Purchase Behavior In A Fast Growth, Intensely Agricultural County," 1999 Annual Meeting, July 11-14, 1999, Fargo, ND 35711, Western Agricultural Economics Association.
    4. Lovell, Sabrina J. & Lynch, Lori, 2002. "Hedonic Price Analysis Of Easement Payments In Agricultural Land Preservation Programs," Working Papers 28564, University of Maryland, Department of Agricultural and Resource Economics.
    5. Kline, Jeffrey & Wichelns, Dennis, 1998. "Measuring heterogeneous preferences for preserving farmland and open space," Ecological Economics, Elsevier, vol. 26(2), pages 211-224, August.
    6. Duke, Joshua M. & Lynch, Lori, 2006. "Gauging Support for Innovative Farmland Preservation Techniques," Working Papers 28586, University of Maryland, Department of Agricultural and Resource Economics.
    7. Lori Lynch & Wesley N. Musser, 2001. "A Relative Efficiency Analysis of Farmland Preservation Programs," Land Economics, University of Wisconsin Press, vol. 77(4), pages 577-594.
    8. McConnell, Kenneth E., 1989. "The Optimal Quantity Of Land In Agriculture," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, vol. 18(2), October.
    9. Yuan, Yuan & Boyle, Kevin J. & You, Wen & Fuller, Harry M., 2012. "A Nationwide Comparison of Farmland Conservation Easement Valuation," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 124836, Agricultural and Applied Economics Association.
    10. Hellerstein, Daniel & Nickerson, Cynthia J. & Cooper, Joseph C. & Feather, Peter & Gadsby, Dwight M. & Mullarkey, Daniel J. & Tegene, Abebayehu & Barnard, Charles H., 2002. "Farmland Protection: The Role Of Public Preferences For Rural Amenities," Agricultural Economics Reports 33963, United States Department of Agriculture, Economic Research Service.
    11. Ghosh, Koel & Marshall, Elizabeth P., 2002. "Modeling Strategic Interactions In Land-Use Decision Models," 2002 Annual meeting, July 28-31, Long Beach, CA 19855, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    12. Anderson, Kathryn & Weinhold, Diana, 2005. "Do Conservation Easements Reduce Land Prices? The Case of South Central Wisconsin," Staff Paper Series 484, University of Wisconsin, Agricultural and Applied Economics.
    13. Anderson, Kathryn & Weinhold, Diana, 2008. "Valuing future development rights: The costs of conservation easements," Ecological Economics, Elsevier, vol. 68(1-2), pages 437-446, December.
    14. Duke, Joshua M. & Johnston, Robert J., 2006. "Systematic Influences of Policy Implementation and Conservation Agents on Willingness to Pay for Land Preservation," 2006 Annual meeting, July 23-26, Long Beach, CA 21234, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    15. Bucholtz, Shawn & Geoghegan, Jacqueline & Lynch, Lori, 2003. "Capitalization of Open Spaces into Housing Values and the Residential Property Tax Revenue Impacts of Agricultural Easement Programs," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 32(1), April.
    16. Deaton, Brady J., Jr. & Hoehn, John P. & Norris, Patricia E., 2005. "Net Buyers, Net Sellers, and Agricultural Landowner Support for Agricultural Zoning," 2005 Annual meeting, July 24-27, Providence, RI 19391, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    17. Bergstrom, John C., 2001. "Postproductivism And Rural Land Values," Faculty Series 16689, University of Georgia, Department of Agricultural and Applied Economics.
    18. Poor, P. Joan & Pessagno, Keri L. & Paul, Robert W., 2007. "Exploring the hedonic value of ambient water quality: A local watershed-based study," Ecological Economics, Elsevier, vol. 60(4), pages 797-806, February.
    19. Thomas J. Nechyba & Randall P. Walsh, 2004. "Urban Sprawl," Journal of Economic Perspectives, American Economic Association, vol. 18(4), pages 177-200, Fall.
    20. Bergstrom, John C., 1998. "Exploring And Expanding The Landscape Values Terrain," Faculty Series 16653, University of Georgia, Department of Agricultural and Applied Economics.

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