A semiparametric hedonic model for valuing wetlands
AbstractA semiparametric hedonic price function is estimated to examine the effects of proximity to wetlands on property values using extensive wetland inventory and housing market data from Portland-Oregon, USA. The semiparametric method used in this study allows for estimation of the hedonic price function with flexible functional form and is computationally easier than most non-parametric models. Four general categories of wetlands - open water, emergent vegetation, forested and scrub shrub wetlands - are differentiated. The results indicate that proximity to open water wetlands has a positive association with property values, while the other types of wetlands have either a negative or insignificant relationship.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Applied Economics Letters.
Volume (Year): 12 (2005)
Issue (Month): 10 ()
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Web page: http://www.tandfonline.com/RAEL20
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Carlos Martins-Filho & Okmyung Bin, 2005.
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Springer, vol. 30(1), pages 93-114, January.
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- Nicodemo, Catia & Raya, Josep M., 2012.
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- Hans R.A. Koster & Jan Rouwendal, 2010. "The Impact of Mixed Land Use on Residential Property Values," Tinbergen Institute Discussion Papers 10-105/3, Tinbergen Institute.
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