Advanced Search
MyIDEAS: Login to save this article or follow this journal

Objective versus Subjective Measures of Water Clarity in Hedonic Property Value Models

Contents:

Author Info

  • P. Joan Poor
  • Kevin J. Boyle
  • Laura O. Taylor
  • Roy Bouchard

Abstract

This paper examines and compares objective, scientific measures of environmental quality with subjective measures of individuals’ perceptions obtained from survey information within the context of hedonic property value models. The specific application is to water clarity of freshwater lakes in Maine. Non-nested, J-test results indicate that the objective measure of water clarity was either preferred, or equally preferred, to the subjective measure for explaining variation in sale prices. These results are promising for hedonic applications employing scientific measures of environmental quality, however robustness of these results to other environmental amenities, and more complex environmental quality measures are of course needed.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://le.uwpress.org/cgi/reprint/77/4/482
Download Restriction: A subscripton is required to access pdf files. Pay per article is available.

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Bibliographic Info

Article provided by University of Wisconsin Press in its journal Land Economics.

Volume (Year): 77 (2001)
Issue (Month): 4 ()
Pages: 482-493

as in new window
Handle: RePEc:uwp:landec:v:77:y:2001:i:4:p:482-493

Contact details of provider:
Web page: http://le.uwpress.org/

Related research

Keywords:

Find related papers by JEL classification:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

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

Cited by:
  1. Hunt, Len M. & Boxall, Peter & Englin, Jeffrey & Haider, Wolfgang, 2005. "Remote tourism and forest management: a spatial hedonic analysis," Ecological Economics, Elsevier, Elsevier, vol. 53(1), pages 101-113, April.
  2. Poor, P. Joan & Pessagno, Keri L. & Paul, Robert W., 2007. "Exploring the hedonic value of ambient water quality: A local watershed-based study," Ecological Economics, Elsevier, Elsevier, vol. 60(4), pages 797-806, February.
  3. 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, University of Toronto Press, vol. 33(4), pages 441-458, December.
  4. Shrestha, Ram K. & Alavalapati, Janaki R.R., 2004. "Effect of Ranchland Attributes on Recreational Hunting in Florida: A Hedonic Price Analysis," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, Southern Agricultural Economics Association, vol. 36(03), December.
  5. Daniel Burghart & Trudy Cameron & Geoffrey Gerdes, 2007. "Valuing publicly sponsored research projects: Risks, scenario adjustments, and inattention," Journal of Risk and Uncertainty, Springer, Springer, vol. 35(1), pages 77-105, August.
  6. Peter Colwell & Carolyn Dehring, 2005. "The Pricing of Lake Lots," The Journal of Real Estate Finance and Economics, Springer, Springer, vol. 30(3), pages 267-283, April.
  7. Cropper, Maureen L. & Isaac, William, 2011. "The Benefits of Achieving the Chesapeake Bay TMDLs (Total Maximum Daily Loads): A Scoping Study," Discussion Papers, Resources For the Future dp-11-31, Resources For the Future.
  8. Larkin, Sherry L. & Alavalapati, Janaki R.R. & Shrestha, Ram K., 2005. "Estimating the Cost of Preserving Private Lands in Florida: An Hedonic Analysis," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, Southern Agricultural Economics Association, vol. 37(01), April.
  9. Snyder, Stephanie A. & Kilgore, Michael A. & Hudson, Rachel & Donnay, Jacob, 2008. "Influence of purchaser perceptions and intentions on price for forest land parcels: A hedonic pricing approach," Journal of Forest Economics, Elsevier, Elsevier, vol. 14(1), pages 47-72, January.
  10. Boyd, James & Krupnick, Alan, 2009. "The Definition and Choice of Environmental Commodities for Nonmarket Valuation," Discussion Papers, Resources For the Future dp-09-35, Resources For the Future.
  11. Christopher Leggett, 2002. "Environmental Valuation with Imperfect Information The Case of the Random Utility Model," Environmental & Resource Economics, European Association of Environmental and Resource Economists, European Association of Environmental and Resource Economists, vol. 23(3), pages 343-355, November.
  12. Palmquist, Raymond B., 2006. "Property Value Models," Handbook of Environmental Economics, Elsevier, in: K. G. Mäler & J. R. Vincent (ed.), Handbook of Environmental Economics, edition 1, volume 2, chapter 16, pages 763-819 Elsevier.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:uwp:landec:v:77:y:2001:i:4:p:482-493. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().

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 references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link 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 profile, as there may be some citations waiting for confirmation.

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