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

Viewscapes and Flood Hazard: Coastal Housing Market Response to Amenities and Risk

Contents:

Author Info

  • Okmyung Bin
  • Thomas W. Crawford
  • Jamie B. Kruse
  • Craig E. Landry

Abstract

Coastal amenities and risk are so highly correlated that separate identification within the hedonic framework is potentially challenging. In this study, we construct a three-dimensional measure of ocean view, viewscape, accounting for natural topography and built obstruction that varies independent of risk classification to disentangle these spatially integrated housing characteristics. A spatial autoregressive hedonic model is developed to provide consistent estimates of the willingness to pay for coastal amenities and risk. Our findings suggest that incorporating the GIS-based view measures can be successful in isolating risk factors from spatial amenities.

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/84/3/434
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): 84 (2008)
Issue (Month): 3 ()
Pages: 434-448

as in new window
Handle: RePEc:uwp:landec:v:84:y:2008:i:3:p:434-448

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. Daniel, Vanessa E. & Florax, Raymond J.G.M. & Rietveld, Piet, 2009. "Flooding risk and housing values: An economic assessment of environmental hazard," Ecological Economics, Elsevier, vol. 69(2), pages 355-365, December.
  2. Jeanne DACHARY-BERNARD (UR ADBX, CEMAGREF) & Sandrine LYSER (UR ADBX, CEMAGREF) & Frédéric GASCHET (GREThA, CNRS, UMR 5113) & Guillaume POUYANNE (GREThA, CNRS, UMR 5113) & Stéphane VIROL (GREThA, C, 2011. "Real Estate and Land Values on the shoreline: a transaction-level analysis (In French)," Cahiers du GREThA 2011-07, Groupe de Recherche en Economie Théorique et Appliquée.
  3. Morgan, O. Ashton & Hamilton, Stuart E., 2011. "Disentangling Access and View Amenities in Access-Restricted Coastal Residential Communities," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 43(02), May.
  4. Paul Hindsley & Stuart Hamilton & O. Morgan, 2013. "Gulf Views: Toward a Better Understanding of Viewshed Scope in Hedonic Property Models," The Journal of Real Estate Finance and Economics, Springer, vol. 47(3), pages 489-505, October.
  5. Mihaescu, Oana & vom Hofe, Rainer, 2013. "The Impact of Brownfields on Residential Property Values in Cincinnati, Ohio: A Spatial Hedonic Approach," HUI Working Papers 85, HUI Research.
  6. Dachary-Bernard, Jeanne & Rambonilaza, Tina & Lemarié-Boutry, Marie, 2014. "The response of land markets to flood protection and flood experience: a hedonic price modeling on the Gironde estuary (France)," 88th Annual Conference, April 9-11, 2014, AgroParisTech, Paris, France 169761, Agricultural Economics Society.
  7. Paul Thorsnes & Robert Alexander & David Kidson, 2011. "Low-income housing in high-amenity areas: Long-run impacts on residential development," Working Papers 1115, University of Otago, Department of Economics, revised Dec 2011.
  8. O. Ashton Morgan & Stuart E. Hamilton, 2009. "Disentangling Access and View Amenities in Access-restricted Coastal Residential Communities," Working Papers 09-10, Department of Economics, Appalachian State University.
  9. Bark, Rosalind H. & Osgood, Daniel E. & Colby, Bonnie G. & Halper, Eve B., 2011. "How Do Homebuyers Value Different Types of Green Space?," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 36(2), August.
  10. Bin, Okmyung & Landry, Craig E., 2013. "Changes in implicit flood risk premiums: Empirical evidence from the housing market," Journal of Environmental Economics and Management, Elsevier, vol. 65(3), pages 361-376.
  11. Monique DANTAS (GREThA UMR CNRS 5113) & Frédéric GASCHET (GREThA UMR CNRS 5113) & Guillaume POUYANNE (GREThA UMR CNRS 5113), 2010. "Regulatory zoning and coastal housing prices: a bayesian hedonic approach (In French)," Cahiers du GREThA 2010-12, Groupe de Recherche en Economie Théorique et Appliquée.
  12. W. Viscusi, 2009. "Valuing risks of death from terrorism and natural disasters," Journal of Risk and Uncertainty, Springer, vol. 38(3), pages 191-213, June.
  13. Smith, Martin D. & Slott, Jordan M. & McNamara, Dylan & Brad Murray, A., 2009. "Beach nourishment as a dynamic capital accumulation problem," Journal of Environmental Economics and Management, Elsevier, vol. 58(1), pages 58-71, July.
  14. Walls, Margaret & Kousky, Carolyn & Chu, Ziyan, 2013. "Is What You See What You Get? The Value of Natural Landscape Views," Discussion Papers dp-13-25, Resources For the Future.

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:84:y:2008:i:3:p:434-448. 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.