IDEAS home Printed from https://ideas.repec.org/a/kap/enreec/v2y1992i4p415-434.html
   My bibliography  Save this article

The amenity value of woodland in Great Britain: A comparison of economic estimates

Author

Listed:
  • Guy Garrod
  • Ken Willis

Abstract

Forests produce benefits over and above the revenue yielded from timber and other wood based products. Most important among these may be the recreational benefits for visitors, which have been examined in several studies. Total benefits for residents are perhaps more accurately captured in property values since, ceteris paribus, the price of a house reflects willingness to pay to live near an environmental amenity such as a forest to gain access to it, and also the amenity (non-use) value of the forest in so far as it creates a pleasant landscape. However, the total non-priced value of forestry is not the sum of HPM and ITCM benefit estimates. Recreational benefits will typically be less, and will be subsumed in the HPM estimates, since the hedonic price is partly induced by the value of recreational access. Copyright Kluwer Academic Publishers 1992

Suggested Citation

  • Guy Garrod & Ken Willis, 1992. "The amenity value of woodland in Great Britain: A comparison of economic estimates," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 2(4), pages 415-434, July.
    • Handle: RePEc:kap:enreec:v:2:y:1992:i:4:p:415-434
    DOI: 10.1007/BF00304970
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1007/BF00304970
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1007/BF00304970?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Linneman, Peter, 1980. "Some empirical results on the nature of the hedonic price function for the urban housing market," Journal of Urban Economics, Elsevier, vol. 8(1), pages 47-68, July.
    2. McConnell, Kenneth E., 1985. "The economics of outdoor recreation," Handbook of Natural Resource and Energy Economics, in: A. V. Kneese† & J. L. Sweeney (ed.), Handbook of Natural Resource and Energy Economics, edition 1, volume 2, chapter 15, pages 677-722, Elsevier.
    3. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
    4. Phil Graves & James C. Murdoch & Mark A. Thayer & Don Waldman, 1988. "The Robustness of Hedonic Price Estimation: Urban Air Quality," Land Economics, University of Wisconsin Press, vol. 64(3), pages 220-233.
    5. Wabe, J.S, 1970. "A Study of House Prices as a means of Establishing the value of Journey Time," The Warwick Economics Research Paper Series (TWERPS) 011, University of Warwick, Department of Economics.
    6. V. Kerry Smith, 1988. "Selection and Recreation Demand," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 70(1), pages 29-36.
    7. William G. Brown & Colin Sorhus & Bih-lian Chou-Yang & Jack A. Richards, 1983. "Using Individual Observations to Estimate Recreation Demand Functions: A Caution," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 65(1), pages 154-157.
    8. K. G. Willis & G. D. Garrod, 1991. "An Individual Travel‐Cost Method Of Evaluating Forest Recreation," Journal of Agricultural Economics, Wiley Blackwell, vol. 42(1), pages 33-42, January.
    9. G. Donald Jud & James M. Watts, 1981. "Schools and Housing Values," Land Economics, University of Wisconsin Press, vol. 57(3), pages 459-470.
    10. Kling, Catherine L., 1988. "Comparing welfare estimates of environmental quality changes from recreation demand models," Journal of Environmental Economics and Management, Elsevier, vol. 15(3), pages 331-340, September.
    11. Cassel, Eric & Mendelsohn, Robert, 1985. "The choice of functional forms for hedonic price equations: Comment," Journal of Urban Economics, Elsevier, vol. 18(2), pages 135-142, September.
    12. Michaels, R. Gregory & Smith, V. Kerry, 1990. "Market segmentation and valuing amenities with hedonic models: The case of hazardous waste sites," Journal of Urban Economics, Elsevier, vol. 28(2), pages 223-242, September.
    13. Kling, Catherine L., 1987. "Simulation Approach to Comparing Multiple Site Recreation Demand Models Using Chesapeake Bay Survey Data (A)," Staff General Research Papers Archive 1583, Iowa State University, Department of Economics.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Robert W. Paterson & Kevin J. Boyle, 2002. "Out of Sight, Out of Mind? Using GIS to Incorporate Visibility in Hedonic Property Value Models," Land Economics, University of Wisconsin Press, vol. 78(3), pages 417-425.
    2. Walpole, Sandra C. & Lockwood, Michael, 1999. "Influence of remnant native vegetation on rural land values: a hedonic pricing application," 1999 Conference (43th), January 20-22, 1999, Christchurch, New Zealand 125032, Australian Agricultural and Resource Economics Society.
    3. Scarpa, Riccardo & Chilton, Susan M. & Hutchinson, W. George & Buongiorno, Joseph, 2000. "Valuing the recreational benefits from the creation of nature reserves in Irish forests," Ecological Economics, Elsevier, vol. 33(2), pages 237-250, May.
    4. Rose, Steven K., 1999. "Non-Market Valuation Techniques: The State of the Art," Working Papers 127688, Cornell University, Department of Applied Economics and Management.
    5. Paula Simões & Luís Cruz & Eduardo Barata, 2012. "Non-market Recreational Value of a National Forest: Survey Design and Results," GEMF Working Papers 2012-09, GEMF, Faculty of Economics, University of Coimbra.
    6. Fabian Waltert & Felix Schlaepfer, 2007. "The role of landscape amenities in regional development: a survey of migration, regional economic and hedonic pricing studies," SOI - Working Papers 0710, Socioeconomic Institute - University of Zurich.
    7. Mikołaj Czajkowski & Wiktor Budziński & Danny Campbell & Marek Giergiczny & Nick Hanley, 2017. "Spatial Heterogeneity of Willingness to Pay for Forest Management," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 68(3), pages 705-727, November.
    8. Geoghegan, Jacqueline & Lynch, Lori & Bucholtz, Shawn, 2003. "Capitalization of Open Spaces into Housing Values and the Residential Property Tax Revenue Impacts of Agricultural Easement Programs," Agricultural and Resource Economics Review, Cambridge University Press, vol. 32(1), pages 33-45, April.
    9. Holmes, Thomas P. & Murphy, Elizabeth A. & Bell, Kathleen P., 2006. "Exotic Forest Insects and Residential Property Values," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 35(1), pages 1-12, April.
    10. Stijn Reinhard & Aris Gaaff, 2006. "Cost-Benefit Analysis in Planning Processes: An Interactive Instrument in an Integrated Approach," ERSA conference papers ersa06p402, European Regional Science Association.
    11. Holmes, Thomas P. & Liebhold, Andrew M. & Kovacs, Kent F. & Von Holle, Betsy, 2010. "A spatial-dynamic value transfer model of economic losses from a biological invasion," Ecological Economics, Elsevier, vol. 70(1), pages 86-95, November.
    12. Waltert, Fabian & Schläpfer, Felix, 2010. "Landscape amenities and local development: A review of migration, regional economic and hedonic pricing studies," Ecological Economics, Elsevier, vol. 70(2), pages 141-152, December.
    13. Guy Garrod & Ken Willis, 1994. "An economic estimate of the effect of a waterside location on property values," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 4(2), pages 209-217, April.
    14. Paulo A.L.D. Nunes & C. Martijn van der Heide & Jeroen C.J.M. van den Bergh & Ekko C. van Ierland, 2005. "Measuring the Economic Value of Two Habitat Defragmentation Policy Scenarios for the Veluwe, The Netherlands," Working Papers 2005.42, Fondazione Eni Enrico Mattei.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Sudip Chattopadhyay, 2002. "Divergence in alternative Hicksian welfare measures: the case of revealed preference for public amenities," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 17(6), pages 641-666.
    2. David E. Clark, 2005. "The Effects of Ignoring Train Whistle Bans on Residential Property Values," Working Papers and Research 0504, Marquette University, Center for Global and Economic Studies and Department of Economics.
    3. Wesley Nimon & John Beghin, 1999. "Are Eco-Labels Valuable? Evidence From the Apparel Industry," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 81(4), pages 801-811.
    4. Celia Bilbao-Terol, 2009. "Impacts of an Iron and Steel Plant on Residential Property Values," European Planning Studies, Taylor & Francis Journals, vol. 17(9), pages 1421-1436, September.
    5. Mai, Nhat Chi, 2018. "도이모이 이후 베트남의 주거 이동, 선택, 가격 결정요인 연구: 호치민시 사례 중심으로," OSF Preprints 6kdfy, Center for Open Science.
    6. Katherine Kiel, 2006. "Environmental Contamination and House Values," Working Papers 0601, College of the Holy Cross, Department of Economics.
    7. Rose, Steven K., 1999. "Non-Market Valuation Techniques: The State of the Art," Working Papers 127688, Cornell University, Department of Applied Economics and Management.
    8. Gonzalez, Fidel & Leipnik, Mark & Mazumder, Diya, 2013. "How much are urban residents in Mexico willing to pay for cleaner air?," Environment and Development Economics, Cambridge University Press, vol. 18(3), pages 354-379, June.
    9. Wiktor Adamowicz & Sarah Jennings & Alison Coyne, 1989. "A Sequential Choice Alternative to the Travel Cost Model," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 37(4), pages 1305-1305, December.
    10. David M. Brasington, 2002. "The Demand for Local Public Goods: The Case of Public School Quality," Public Finance Review, , vol. 30(3), pages 163-187, May.
    11. Whitten, Stuart M. & Bennett, Jeffrey W., 2001. "A Travel Cost Study of Duck Hunting in the Upper South East of South Australia," 2001 Conference (45th), January 23-25, 2001, Adelaide, Australia 126064, Australian Agricultural and Resource Economics Society.
    12. Francois Des Rosiers, 2002. "Power Lines, Visual Encumbrance and House Values: A Microspatial Approach to Impact Measurement," Journal of Real Estate Research, American Real Estate Society, vol. 23(3), pages 275-302.
    13. Palmquist, Raymond B., 2006. "Property Value Models," Handbook of Environmental Economics, in: K. G. Mäler & J. R. Vincent (ed.), Handbook of Environmental Economics, edition 1, volume 2, chapter 16, pages 763-819, Elsevier.
    14. Mai, Nhat Chi, 2018. "Residential Mobility, Housing Choice, and Price Determinants in Transitional Vietnam: The Case of Ho Chi Minh City," OSF Preprints j7wvh, Center for Open Science.
    15. Donald Haurin & David Brasington, 1996. "The Impact of School Quality on Real House Prices: Interjurisdictional Effects," Working Papers 010, Ohio State University, Department of Economics.
    16. Uchenna N. Akpom, 1996. "Housing Attributes And The Cost Of Private Rental Buildings In Lagos Nigeria: A Hedonic Price Analysis," The Review of Regional Studies, Southern Regional Science Association, vol. 26(3), pages 351-365, Winter.
    17. Berna Keskin & Craig Watkins, 2017. "Defining spatial housing submarkets: Exploring the case for expert delineated boundaries," Urban Studies, Urban Studies Journal Limited, vol. 54(6), pages 1446-1462, May.
    18. Sudip Chattopadhyay, 2003. "A Repeated Sampling Technique in Assessing the Validity of Benefit Transfer in Valuing Non-Market Goods," Land Economics, University of Wisconsin Press, vol. 79(4), pages 576-596.
    19. Paul Asabere & Forrest Huffman, 2009. "The Relative Impacts of Trails and Greenbelts on Home Price," The Journal of Real Estate Finance and Economics, Springer, vol. 38(4), pages 408-419, May.
    20. Kim, GwanSeon & Schieffer, Jack & Mark, Tyler, 2020. "Do superfund sites affect local property values? Evidence from a spatial hedonic approach," Economic Analysis and Policy, Elsevier, vol. 67(C), pages 15-28.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:enreec:v:2:y:1992:i:4:p:415-434. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.