Property Value Capitalization and Municipal Open Space Referenda
AbstractThis paper first develops a theory of demand for land conservation in the presence of price effects due to both amenity-creation and housing supply-restriction. Three hypotheses designed to distinguish demand for amenities from homeowner rent-seeking are based upon (1) renters, (2) the quality of another locally provided good, schools, and (3) spatial autocorrelation of funding across municipalities. Econometric results suggest an observable degree of demand for open space measures is nonenvironmental in motivation. Efficiency and policy implications are discussed, along with a recommendation for benefit-cost analysis capable of separating nonrival amenities from other interests to certify open space measures.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by University of Wisconsin Press in its journal Land Economics.
Volume (Year): 88 (2012)
Issue (Month): 2 ()
Contact details of provider:
Web page: http://le.uwpress.org/
Find related papers by JEL classification:
- H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
- Q24 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Land
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().
If references are entirely missing, you can add them using this form.