Market structure and environmental amenities in hedonic pricing of rural cottages
AbstractSite-specific characteristics are attributes of tourism services for consumers and a factor influencing their costs and quality for producers. These services are a fine illustration of territorial rents. Using estimates from hedonic price equations, we test the role of environmental/territorial variables as services differentiation tools in the context of a non-competitive market, and recover the value of territorial rent generated by tourism managers' strategies. Two territories of reference are chosen, one currently benefiting from the renewed interest of the public, and a usual tourist destination. The results of a comparative analysis suggest that tourists' preferences for new destinations, combined with firms' strategies generate some catching up effect by emerging territories.
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Bibliographic InfoPaper provided by Grenoble Applied Economics Laboratory (GAEL) in its series Working Papers with number 200427.
Date of creation: 2004
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ENVIRONMENTAL VALUATION; HEDONIC METHOD; SERVICE DIFFERENTIATION; TOURISM;
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)
- Q26 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Recreational Aspects of Natural Resources
- R14 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Land Use Patterns
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