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Estimating the amenity value of rainfall

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  • Jeffrey Englin

    (Department of Agricultural Economics MS-204, University of Nevada, Reno, NV 98557, USA)

Abstract

The 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 Info

Article provided by Springer in its journal The Annals of Regional Science.

Volume (Year): 30 (1996)
Issue (Month): 3 ()
Pages: 273-283

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Handle: RePEc:spr:anresc:v:30:y:1996:i:3:p:273-283

Note: Received: October 1993 / Accepted in revised form: July 1994
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Cited by:
  1. Rehdanz, Katrin & Maddison, David, 2005. "Climate and happiness," Ecological Economics, Elsevier, vol. 52(1), pages 111-125, January.
    • Katrin Rehdanz & David J. Maddison, 2003. "Climate and Happiness," Working Papers FNU-20, Research unit Sustainability and Global Change, Hamburg University, revised Apr 2003.
  2. 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.
  3. Katrin Rehdanz & David Maddison, 2004. "The Amenity Value of Climate to German Households," Discussion Papers of DIW Berlin 414, DIW Berlin, German Institute for Economic Research.
  4. 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.
  5. 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.
  6. 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.
  7. Hansen, Winslow D. & Naughton, Helen T., 2013. "The effects of a spruce bark beetle outbreak and wildfires on property values in the wildland–urban interface of south-central Alaska, USA," Ecological Economics, Elsevier, vol. 96(C), pages 141-154.

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