Estimating the Demand for Tree Canopy: A Second-Stage Hedonic Price Analysis in Portland, Oregon
AbstractThe benefits of large patches of tree canopy are estimated by applying a hedonic price model to the sale of single-family residential properties in Portland, Oregon. The first-stage analysis provides evidence of diminishing returns from increasing tree canopy past a certain level. The second-stage analysis uses a survey of property owners’ preferences and socioeconomic characteristics to overcome the problem of endogeneity. Average benefit estimates for the mean canopy cover within mile of properties in the study area, using the second-stage model, are between 0.75% and 2.52% of the mean sale price.
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Bibliographic InfoArticle provided by University of Wisconsin Press in its journal Land Economics.
Volume (Year): 86 (2010)
Issue (Month): 2 ()
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Web page: http://le.uwpress.org/
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- Pandit, Ram & Polyakov, Maksym & Sadler, Rohan, 2012. "The importance of tree cover and neighbourhood parks in determining urban property values," 2012 Conference (56th), February 7-10, 2012, Freemantle, Australia 124357, Australian Agricultural and Resource Economics Society.
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