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The Effects of Aquatic Invasive Species on Property Values: Evidence from a Quasi-Experiment

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Author Info
Eric J. Horsch
David J. Lewis
Abstract

This study uses hedonic analysis to estimate the effects of a common aquatic invasive species—Eurasian watermilfoil (milfoil)—on property values across an extensive system of over 170 lakes in the northern forest region of Wisconsin. Since milfoil is inadvertently spread by recreational boaters, and since boaters are more likely to visit attractive lakes, variables indicating the presence of milfoil are endogenous in a hedonic model. Using an identification strategy based on a spatial difference-in-differences specification, results indicate that lakes invaded with milfoil experienced an average 13% decrease in land values after invasion.

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File URL: http://le.uwpress.org/cgi/reprint/85/3/391
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Publisher Info
Article provided by University of Wisconsin Press in its journal Land Economics.

Volume (Year): 85 (2009)
Issue (Month): 3 ()
Pages: 391-409
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Handle: RePEc:uwp:landec:v:85:y:2009:i:3:p:391-409

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Find related papers by JEL classification:
Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics

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This page was last updated on 2009-11-22.

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