Estimating the amenity value of rainfall
AbstractThe amenity value of two measures of rainfall are investigated in this study: long term average annual rainfall and the variation in rainfall within the year. Estimates of the economic value of rainfall and variation in rainfall are found using the hedonic property value technique. The results indicate that rainfall is an attribute for which the distribution as well as the average annual level is important. Home buyers prefer less annual rainfall, but, holding annual rainfall constant, buyers will also pay more for greater seasonal variation in rainfall.
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Bibliographic InfoArticle provided by Springer in its journal The Annals of Regional Science.
Volume (Year): 30 (1996)
Issue (Month): 3 ()
Note: Received: October 1993 / Accepted in revised form: July 1994
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- Katrin Rehdanz & David Maddison, 2004.
"The Amenity Value of Climate to German Households,"
2004.57, Fondazione Eni Enrico Mattei.
- Katrin Rehdanz & David J. Maddison, 2003.
"Climate and Happiness,"
FNU-20, Research unit Sustainability and Global Change, Hamburg University, revised Apr 2003.
- Hunt, Len M. & Boxall, Peter & Englin, Jeffrey & Haider, Wolfgang, 2005. "Remote tourism and forest management: a spatial hedonic analysis," Ecological Economics, Elsevier, vol. 53(1), pages 101-113, April.
- Ida Ferrara & Stephen McComb & Paul Missios, 2007. "Local Willingness-to-Pay Estimates for the Remediation of the Sydney Tar Ponds in Nova Scotia," Canadian Public Policy, University of Toronto Press, vol. 33(4), pages 441-458, December.
- Maddison, David, 2003. "The amenity value of the climate: the household production function approach," Resource and Energy Economics, Elsevier, vol. 25(2), pages 155-175, May.
- Katrin Rehdanz, 2002. "Hedonic Pricing Of Climate Change Impacts To Households In Great Britain," Working Papers FNU-13, Research unit Sustainability and Global Change, Hamburg University, revised Jul 2002.
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