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Agricultural Sedimentation Impacts On Lakeside Property Values

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  • Bejranonda, Somskaow
  • Hitzhusen, Frederick J.
  • Hite, Diane

Abstract

A hedonic pricing model is developed to estimate the effects of policies to control agricultural sedimentation on lakeside property values at 15 Ohio state park lakes, Using an LA/AIDS demand system, we estimate changes in social welfare that result from upstream soil conservation practices and/or lake dredging activity, while holding other property characteristics constant. Policy simulation results suggest that lakeside residents generally have a higher willingness to pay on an annualized basis for sediment reduction from upstream soil conservation than for lake dredging. This has important implications for soil conservation policy, particularly in targeting improvements in the economic efficiency of the Conservation Reserve Program.

Suggested Citation

  • Bejranonda, Somskaow & Hitzhusen, Frederick J. & Hite, Diane, 1999. "Agricultural Sedimentation Impacts On Lakeside Property Values," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 28(2), pages 1-11, October.
  • Handle: RePEc:ags:arerjl:31278
    DOI: 10.22004/ag.econ.31278
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    References listed on IDEAS

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    1. Andrew Bechard, 2021. "Gone with the Wind: Declines in Property Values as Harmful Algal Blooms Are Blown Towards the Shore," The Journal of Real Estate Finance and Economics, Springer, vol. 62(2), pages 242-257, February.
    2. Mark Skidmore & Gary Anderson & Mark Eiswerth, 2011. "The Child Adoption Marketplace: Parental Preferences and Adoption Outcomes," CESifo Working Paper Series 3674, CESifo.
    3. Wolf, David & Klaiber, H. Allen, 2017. "Bloom and bust: Toxic algae's impact on nearby property values," Ecological Economics, Elsevier, vol. 135(C), pages 209-221.
    4. Yoo, James & Simonit, Silvio & Connors, John P. & Kinzig, Ann P. & Perrings, Charles, 2014. "The valuation of off-site ecosystem service flows: Deforestation, erosion and the amenity value of lakes in Prescott, Arizona," Ecological Economics, Elsevier, vol. 97(C), pages 74-83.
    5. Dennis Guignet & Matthew T. Heberling & Michael Papenfus & Olivia Griot & Ben Holland, 2020. "Property values, water quality, and benefit transfer: A nationwide meta-analysis," Working Papers 20-04, Department of Economics, Appalachian State University.
    6. Wolf, David M. & Georgic, Will C. & Klaiber, Allen, 2017. "Reeling in the Damages: Harmful Algal Blooms' Impact on Lake Erie's Recreational Fishing Industry," 2017 Annual Meeting, July 30-August 1, Chicago, Illinois 258096, Agricultural and Applied Economics Association.

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    Keywords

    Land Economics/Use;

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