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Valuation of Water Level: A Spatial Hedonic Analysis on Lakeshore Properties

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  • Liu, Weiwei

Abstract

White Bear Lake, Minnesota, has lost a large amount of water due to excessive groundwater extraction. Using a general nested spatial hedonic pricing model, this paper identifies and evaluates the impact of water loss in the lake on lakeshore properties. In addition to providing a quantitative estimate of property value loss, the results show that the marginal loss intensifies as water level persistently declines further. The findings of this study alert emerging urban areas to the negative externalities of failing to balance the tasks of meeting increased water demand as well as achieving sustainable water use.

Suggested Citation

  • Liu, Weiwei, 2020. "Valuation of Water Level: A Spatial Hedonic Analysis on Lakeshore Properties," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 45(1), January.
    • Handle: RePEc:ags:jlaare:298432
    DOI: 10.22004/ag.econ.298432
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    Cited by:

    1. Mohamed A. Abdrabo & Mahmoud A. Hassaan & Rofida G. Abdelwahab, 2022. "A spatial hedonic approach for modeling the relationship between quality of urban life and housing prices, case study: Alexandria city, Egypt," Letters in Spatial and Resource Sciences, Springer, vol. 15(1), pages 59-77, April.
    2. Mei, Yingdan & Qiu, Jixiang & Wu, Jialu & Meng, Lina, 2021. "Do residents care about urban dumps? Evidence from individual housing transaction data," Land Use Policy, Elsevier, vol. 109(C).

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