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Accounting for Heterogeneity of Public Lands in Hedonic Property Models

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Author Info

  • Charlotte Ham
  • Patricia A. Champ
  • John B. Loomis
  • Robin M. Reich

Abstract

Open space lands, national forests in particular, are usually treated as homogeneous entities in hedonic price studies. Failure to account for the heterogeneous nature of public open spaces may result in inappropriate inferences about the benefits of proximate location to such lands. In this study the hedonic price method is used to estimate the marginal values for proximity to the Pike National Forest. The results indicate that specifying the forest as homogeneous overstates the benefits for homes within two miles relative to specifying the forest based on land use characteristics, because the significant negative effect from noise-intensive activities is omitted.

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File URL: http://le.uwpress.org/cgi/reprint/88/3/444
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Bibliographic Info

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

Volume (Year): 88 (2012)
Issue (Month): 3 ()
Pages: 444-456

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Handle: RePEc:uwp:landec:v:88:y:2012:iii:1:p:444-456

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

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Cited by:
  1. Hansen, Winslow D. & Naughton, Helen T., 2013. "The effects of a spruce bark beetle outbreak and wildfires on property values in the wildland–urban interface of south-central Alaska, USA," Ecological Economics, Elsevier, vol. 96(C), pages 141-154.
  2. Zhen Xu & G. Cornelis van Kooten, 2013. "Living with Wildfire: The Impact of Historic Fires on Property Values in Kelowna, BC," Working Papers 2013-05, University of Victoria, Department of Economics, Resource Economics and Policy Analysis Research Group.

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