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A Hedonic Analysis of the Impact of Marine Aquaculture on Coastal Housing Prices in Maine

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  • Evans, Keith S.
  • Chen, Xuan
  • Robichaud, Christina A.

Abstract

Converting coastal waters to farmed production of seafood may generate conflicts with other resource users. This study explores the impact of marine aquaculture development on coastal homeowners. Using single-family home sales from 2012–2014 and spatial data on coastal aquaculture activity, we employ hedonics to assess the impacts of mariculture development in three study areas of Maine, USA. Our results suggest modest impacts on residential property values with significant spatial variation across study areas. This spatial variation represents a challenge for managers and highlights the potential benefits from coordinating the development of aquaculture to balance resource users' objectives with industry growth.

Suggested Citation

  • Evans, Keith S. & Chen, Xuan & Robichaud, Christina A., 2017. "A Hedonic Analysis of the Impact of Marine Aquaculture on Coastal Housing Prices in Maine," Agricultural and Resource Economics Review, Cambridge University Press, vol. 46(2), pages 242-267, August.
    • Handle: RePEc:cup:agrerw:v:46:y:2017:i:02:p:242-267_00
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    Cited by:

    1. Rector, M.E. & Filgueira, R. & Grant, J., 2021. "Ecosystem services in salmon aquaculture sustainability schemes," Ecosystem Services, Elsevier, vol. 52(C).
    2. Spanou, Elisavet & Kenter, Jasper O. & Graziano, Marcello, 2020. "The Effects of Aquaculture and Marine Conservation on Cultural Ecosystem Services: An Integrated Hedonic – Eudaemonic Approach," Ecological Economics, Elsevier, vol. 176(C).
    3. Farolfi, Giulio & Johnston, Robert J., 2022. "Understanding Public Preferences for Shellfish Aquaculture Expansion: The Role of Production Technology and Environmental Impacts," 2022 Annual Meeting, July 31-August 2, Anaheim, California 322131, Agricultural and Applied Economics Association.

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