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Valuing open space in a residential sorting model of the Twin Cities

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  • Allen Klaiber, H.
  • Phaneuf, Daniel J.

Abstract

We present an analysis of how open space amenities affect residential location choices using a horizontal sorting model to estimate household preferences for open space. To parameterize the model, a new and rich dataset spanning 17 years of home sales in the seven-county Twin Cities area of Minnesota was assembled. Heterogeneity across types of open space and across households is shown to be a critical determinant of the welfare impacts of open space conservation. Our general equilibrium simulations allow housing prices to re-equilibrate in response to policy-induced demand shifts, demonstrating that as the scale of intervention becomes larger, general equilibrium and partial equilibrium welfare measures increasingly diverge. Finally, we find that the spatial structure of policy is an important component of policy design, suggesting open space policy should be place-specific in its design and implementation.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Environmental Economics and Management.

Volume (Year): 60 (2010)
Issue (Month): 2 (September)
Pages: 57-77

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Handle: RePEc:eee:jeeman:v:60:y:2010:i:2:p:57-77

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Web page: http://www.elsevier.com/locate/inca/622870

Related research

Keywords: Tiebout sorting Open space Locational equilibrium General equilibrium Housing demand;

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Cited by:
  1. Sinha, Paramita & Cropper, Maureen L., 2013. "The Value of Climate Amenities: Evidence from US Migration Decisions," Discussion Papers dp-13-01, Resources For the Future.
  2. Goodenberger, James & Klaiber, H. Allen, 2013. "Evading Invasives: How Eurasian Water-Milfoil Effects the Development of Lakefront Properties," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 150309, Agricultural and Applied Economics Association.
  3. Abildtrup, Jens & Garcia, Serge & Olsen, Soren Boye & Stenger, Anne, 2011. "Spatial Preference Heterogeneity in Forest Recreation," 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland 120386, European Association of Agricultural Economists.
  4. Livy, Mitchell & Klaiber, H. Allen, 2013. "Maintaining Public Goods: Household Valuation of New and Renovated Local Parks," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 150634, Agricultural and Applied Economics Association.
  5. Wenjie Wu, 2012. "Spatial Variations in Amenity Values: New Evidence from Beijing, China," SERC Discussion Papers 0113, Spatial Economics Research Centre, LSE.
  6. Wrenn, Douglas H. & Sam, Abdoul G. & Irwin, Elena G., 2012. "Searching for the Urban Fringe: Exploring Spatio-Temporal Variations in the Effect of Distance versus Local Interactions on Residential Land Conversion Using a Conditionally-Parametric Discrete-Time D," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 125007, Agricultural and Applied Economics Association.
  7. Zhiling Wang & Thomas de Graaff & and Peter Nijkamp, 2014. "Cultural Diversity and Cultural Distance as Choice Determinants of Migration Destination," Tinbergen Institute Discussion Papers 14-066/VIII, Tinbergen Institute.
  8. Abbott, Joshua K. & Klaiber, H. Allen, 2010. "Is all space created equal? Uncovering the relationship between competing land uses in subdivisions," Ecological Economics, Elsevier, vol. 70(2), pages 296-307, December.
  9. Mark Van Duijn & Jan Rouwendal, 2011. "Cultural Heritage and the Location Choice of Dutch Households in a Residential Sorting Model," ERSA conference papers ersa11p648, European Regional Science Association.
  10. Chen, Yong & Irwin, Elena G. & Jayaprakash, Ciriyam, 2011. "Incorporating Spatial Complexity into Economic Models of Land Markets and Land Use Change," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 40(3), December.
  11. Nicolai V. Kuminoff & V. Kerry Smith & Christopher Timmins, 2013. "The New Economics of Equilibrium Sorting and Policy Evaluation Using Housing Markets," Journal of Economic Literature, American Economic Association, vol. 51(4), pages 1007-62, December.
  12. Koster, Hans R.A. & van Ommeren, Jos & Rietveld, Piet, 2014. "Estimation of semiparametric sorting models: Explaining geographical concentration of business services," Regional Science and Urban Economics, Elsevier, vol. 44(C), pages 14-28.
  13. Fan, Qin & Klaiber, H. Allen & Fisher-Vanden, Karen, 2012. "Climate Change Impacts on U.S. Migration and Household Location Choice," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 124588, Agricultural and Applied Economics Association.
  14. Michael Brady & Elena Irwin, 2011. "Accounting for Spatial Effects in Economic Models of Land Use: Recent Developments and Challenges Ahead," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 48(3), pages 487-509, March.
  15. Kuminoff, Nicolai V., 2009. "Using a Bundled Amenity Model to Estimate the Value of Cropland Open Space and Determine an Optimal Buffer Zone," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 34(1), April.
  16. Constant Tra, 2009. "Title: A Discrete Choice Equilibrium Approach to Valuing Large Environmental Changes," Working Papers 0922, University of Nevada, Las Vegas , Department of Economics.
  17. Meyerhoff, Jürgen, 2013. "Do turbines in the vicinity of respondents' residences influence choices among programmes for future wind power generation?," Journal of choice modelling, Elsevier, vol. 7(C), pages 58-71.
  18. Wu, JunJie, 2014. "Public open-space conservation under a budget constraint," Journal of Public Economics, Elsevier, vol. 111(C), pages 96-101.

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