Valuing Beach Quality with Hedonic Property Models
AbstractThis 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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Bibliographic InfoArticle provided by University of Wisconsin Press in its journal Land Economics.
Volume (Year): 87 (2011)
Issue (Month): 1 ()
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Web page: http://le.uwpress.org/
Find related papers by JEL classification:
- Q26 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Recreational Aspects of Natural Resources
- Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
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- 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.
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