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Valuing Beach Quality with Hedonic Property Models

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  • Craig E. Landry
  • Paul Hindsley

Abstract

This paper explores the influence of beach quality on coastal property values. We hypothesize that beach and dune width provide local public goods in the form of recreation potential and storm/erosion protection, but services are limited by distance from the shoreline. Our findings support this hypothesis, as extending the influence of beach quality beyond 300 m from the shore generally results in statistically insignificant parameter estimates. For houses within this proximity bound, beach and dune widths increase property value. We argue that interpretation of marginal willingness to pay for beach quality depends upon individual understanding of coastal processes and expectations of management intervention.

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File URL: http://le.uwpress.org/cgi/reprint/87/1/92
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Bibliographic Info

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

Volume (Year): 87 (2011)
Issue (Month): 1 ()
Pages: 92-108

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Handle: RePEc:uwp:landec:v:87:y:2011:i:1:p:92-108

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Web page: http://le.uwpress.org/

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Cited by:
  1. Paul Hindsley & Stuart E. Hamilton & O. Ashton Morgan, 2011. "Gulf Views: Toward a Better Understanding of Viewshed Scope in Hedonic Property Models," Working Papers 11-06, Department of Economics, Appalachian State University.
  2. Steve Gibbons & Susana Mourato & Guilherme Resende, 2011. "The Amenity Value of English Nature: A Hedonic Price Approach," SERC Discussion Papers 0074, Spatial Economics Research Centre, LSE.
  3. 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.
  4. Jean-Sauveur Ay & Raja Chakir & Stephan Marette, 2014. "Does living close to a vineyard increase the willingness-to-pay for organic and local wine?," Working Papers 2014/03, INRA, Economie Publique.

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