GIS-based hedonic pricing of landscape
AbstractHedonic prices of landscape are estimated in the urban fringe of Dijon (France). Viewshed and its content as perceived at ground level are analyzed from satellite images supplemented by a digital elevation model. Landscape attributes are then fed into econometric models (based on 2,667 house sales) that allows for endogeneity, multicollinearity, and spatial orrelations. Results show that when in the line of sight, trees and farmland in the immediate vicinity of houses command positive prices and roads negative prices; if out of sight, their prices are markedly lower or insignificant: the view itself matters. The layout of features in fragmented landscapes commands positive hedonic prices. Landscapes and features in sight but more than 100â€“300 m away all have insignificant prices.
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Bibliographic InfoPaper provided by Institut National de la Recherche Agronomique, France in its series Working Papers with number 33854.
Date of creation: 2009
Date of revision:
Publication status: Published in Environmental and Resource Economics
AMENITY; HEDONIC PRICING; LANDSCAPE; VIEWÂ ; cÃ´te d'or; bourgognehabitatpaysage; valeur Ã©conomiqueÃ©valuation;
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- Walls, Margaret & Kousky, Carolyn & Chu, Ziyan, 2013. "Is What You See What You Get? The Value of Natural Landscape Views," Discussion Papers, Resources For the Future dp-13-25, Resources For the Future.
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