Estimating the Demand for Tree Canopy: A Second-Stage Hedonic Price Analysis in Portland, Oregon
Abstract
The 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.Download Info
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Bibliographic Info
Article provided by University of Wisconsin Press in its journal Land Economics.
Volume (Year): 86 (2010)
Issue (Month): 2 ()
Pages: 281-293
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Web page: http://le.uwpress.org/
Related research
Keywords:Find related papers by JEL classification:
- Q21 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Demand and Supply (the Commons)
- Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
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Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.Cited by:
- 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.
- Kent Kovacs & Thomas Holmes & Jeffrey Englin & Janice Alexander, 2011. "The Dynamic Response of Housing Values to a Forest Invasive Disease: Evidence from a Sudden Oak Death Infestation," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 49(3), pages 445-471, July.
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