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The impact of wind farms on property values: A locally weighted hedonic pricing model

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  • Yasin Sunak
  • Reinhard Madlener

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  • Yasin Sunak & Reinhard Madlener, 2017. "The impact of wind farms on property values: A locally weighted hedonic pricing model," Papers in Regional Science, Wiley Blackwell, vol. 96(2), pages 423-444, June.
  • Handle: RePEc:bla:presci:v:96:y:2017:i:2:p:423-444
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    File URL: http://hdl.handle.net/10.1111/pirs.12197
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    1. Kuminoff, Nicolai V. & Parmeter, Christopher F. & Pope, Jaren C., 2010. "Which hedonic models can we trust to recover the marginal willingness to pay for environmental amenities?," Journal of Environmental Economics and Management, Elsevier, vol. 60(3), pages 145-160, November.
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    3. Sunding, David L. & Swoboda, Aaron M., 2010. "Hedonic analysis with locally weighted regression: An application to the shadow cost of housing regulation in Southern California," Regional Science and Urban Economics, Elsevier, vol. 40(6), pages 550-573, November.
    4. Kohlhase, Janet E., 1991. "The impact of toxic waste sites on housing values," Journal of Urban Economics, Elsevier, vol. 30(1), pages 1-26, July.
    5. Francois Des Rosiers, 2002. "Power Lines, Visual Encumbrance and House Values: A Microspatial Approach to Impact Measurement," Journal of Real Estate Research, American Real Estate Society, vol. 23(3), pages 275-302.
    6. Dekkers, Jasper E.C. & van der Straaten, J. Willemijn, 2009. "Monetary valuation of aircraft noise: A hedonic analysis around Amsterdam airport," Ecological Economics, Elsevier, vol. 68(11), pages 2850-2858, September.
    7. Sally Sims & Peter Dent & G. Reza Oskrochi, 2008. "Modelling the impact of wind farms on house prices in the UK," International Journal of Strategic Property Management, Taylor & Francis Journals, vol. 12(4), pages 251-269, August.
    8. Kenneth Y. Chay & Michael Greenstone, 2005. "Does Air Quality Matter? Evidence from the Housing Market," Journal of Political Economy, University of Chicago Press, vol. 113(2), pages 376-424, April.
    9. David Wheeler & Michael Tiefelsdorf, 2005. "Multicollinearity and correlation among local regression coefficients in geographically weighted regression," Journal of Geographical Systems, Springer, vol. 7(2), pages 161-187, June.
    10. David E. Clark & Tim Allison, 1999. "articles: Spent nuclear fuel and residential property values: the influence of proximity, visual cues and public information," Papers in Regional Science, Springer;Regional Science Association International, vol. 78(4), pages 403-421.
    11. Leggett, Christopher G. & Bockstael, Nancy E., 2000. "Evidence of the Effects of Water Quality on Residential Land Prices," Journal of Environmental Economics and Management, Elsevier, vol. 39(2), pages 121-144, March.
    12. Daniel P. McMillen & Christian L. Redfearn, 2010. "Estimation And Hypothesis Testing For Nonparametric Hedonic House Price Functions," Journal of Regional Science, Wiley Blackwell, vol. 50(3), pages 712-733, August.
    13. Ben Hoen & Ryan Wiser & Peter Cappers & Mark Thayer & Gautam Sethi, 2011. "Wind Energy Facilities and Residential Properties: The Effect of Proximity and View on Sales Prices," Journal of Real Estate Research, American Real Estate Society, vol. 33(3), pages 279-316.
    14. Won Kim, Chong & Phipps, Tim T. & Anselin, Luc, 2003. "Measuring the benefits of air quality improvement: a spatial hedonic approach," Journal of Environmental Economics and Management, Elsevier, vol. 45(1), pages 24-39, January.
    15. Anselin, Luc, 2002. "Under the hood : Issues in the specification and interpretation of spatial regression models," Agricultural Economics, Blackwell, vol. 27(3), pages 247-267, November.
    16. Arthur C. Nelson & John Genereux & Michelle Genereux, 1992. "Price Effects of Landfills on House Values," Land Economics, University of Wisconsin Press, vol. 68(4), pages 359-365.
    17. Krohn, Søren & Damborg, Steffen, 1999. "On public attitudes towards wind power," Renewable Energy, Elsevier, vol. 16(1), pages 954-960.
    18. Martin D. Heintzelman & Carrie M. Tuttle, 2012. "Values in the Wind: A Hedonic Analysis of Wind Power Facilities," Land Economics, University of Wisconsin Press, vol. 88(3), pages 571-588.
    19. Halvorsen, Robert & Palmquist, Raymond, 1980. "The Interpretation of Dummy Variables in Semilogarithmic Equations," American Economic Review, American Economic Association, vol. 70(3), pages 474-475, June.
    20. Lang, Corey & Opaluch, James J. & Sfinarolakis, George, 2014. "The windy city: Property value impacts of wind turbines in an urban setting," Energy Economics, Elsevier, vol. 44(C), pages 413-421.
    21. Wolsink, Maarten, 2000. "Wind power and the NIMBY-myth: institutional capacity and the limited significance of public support," Renewable Energy, Elsevier, vol. 21(1), pages 49-64.
    22. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
    23. Steinnes, Donald N, 1992. "Measuring the Economic Value of Water Quality: The Case of Lakeshore Land," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 26(2), pages 171-176, June.
    24. Sally Sims & Peter Dent, 2007. "Property stigma: wind farms are just the latest fashion," Journal of Property Investment & Finance, Emerald Group Publishing, vol. 25(6), pages 626-651, October.
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    Cited by:

    1. Hao Wu & Hongzan Jiao & Yang Yu & Zhigang Li & Zhenghong Peng & Lingbo Liu & Zheng Zeng, 2018. "Influence Factors and Regression Model of Urban Housing Prices Based on Internet Open Access Data," Sustainability, MDPI, Open Access Journal, vol. 10(5), pages 1-17, May.
    2. Boyle, Kevin J. & Boatwright, Jessica & Brahma, Sreeya & Xu, Weibin, 2019. "NIMBY, not, in siting community wind farms," Resource and Energy Economics, Elsevier, vol. 57(C), pages 85-100.
    3. Olivier JOALLAND & Tina RAMBONILAZA, 2017. "Valeur touristique des aménités environnementales et nuisances associées aux infrastructures d’énergie renouvelable : une approche hédonique spatiale," Region et Developpement, Region et Developpement, LEAD, Universite du Sud - Toulon Var, vol. 46, pages 93-115.
    4. Pates, Nicholas J. & Kim, GwanSeon & Mark, Tyler B. & Ritter, Matthias, 2020. "Windfalls or wind falls? The Local Effects of Turbine Development on US Agricultural Land Values," 2020 Annual Meeting, July 26-28, Kansas City, Missouri 304611, Agricultural and Applied Economics Association.
    5. Olivier JOALLAND & Tina RAMBONILAZA, 2017. "Assessing the impact of renewable energy infrastructure on the “tourist value” in rural landscapes: a spatial hedonic approach," Cahiers du GREThA (2007-2019) 2017-10, Groupe de Recherche en Economie Théorique et Appliquée (GREThA).

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