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Measuring the Nonmarket Value of Massachusetts Agricultural Land: A Case Study

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  • Halstead, John M.

Abstract

Agricultural land provides a variety of " nonmarket" services to the Commonwealth, including wildlife habitat, scenic vistas, and recreation . This study utilizes an iterative bidding game to estimate willingness-to-pay of residents of three central Massachusetts counties to preserve state agricultural land. Through the use of these data, estimates of the value of these nonmarket amenities are derived so that a fuUer measure of the value of agricultural land can be obtained. This information may be useful to policy makers administering such programs as the Agricultural Preservation Restriction Act (Chapter 780) which are designed to arrest the conversion of Massachusetts farmland to urban uses.

Suggested Citation

  • Halstead, John M., 1984. "Measuring the Nonmarket Value of Massachusetts Agricultural Land: A Case Study," Journal of the Northeastern Agricultural Economics Council, Northeastern Agricultural and Resource Economics Association, vol. 13(01), pages 1-8, April.
    • Handle: RePEc:ags:nareaj:159272
    DOI: 10.22004/ag.econ.159272
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    References listed on IDEAS

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    1. Mark R. Correll & Jane H. Lillydahl & Larry D. Singell, 1978. "The Effects of Greenbelts on Residential Property Values: Some Findings on the Political Economy of Open Space," Land Economics, University of Wisconsin Press, vol. 54(2), pages 207-217.
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    4. Randall, Alan & Ives, Berry & Eastman, Clyde, 1974. "Bidding games for valuation of aesthetic environmental improvements," Journal of Environmental Economics and Management, Elsevier, vol. 1(2), pages 132-149, August.
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