IDEAS home Printed from https://ideas.repec.org/a/cup/jagaec/v27y1995i01p212-223_01.html

Marginal Price of Lake Recreation and Aesthetics: An Hedonic Approach

Author

Listed:
  • Lansford, Notie H.
  • Jones, Lonnie L.

Abstract

Efficient allocation of water requires knowledge of water's value in both consumptive and nonconsumptive uses. This study estimates the marginal value of water in lake recreational and aesthetic (RA) use. An hedonic price equation (employing the Box-Cox functional form) indicates lake front location, distance to lake, and scenic view are significant RA characteristics of housing. Water front properties command a premium price for the private access they offer. Beyond the water front, the marginal RA price falls rapidly with increasing distance, becoming asymptotic to some minimum. Twenty-two percent of housing price is found to be attributable to the RA component.

Suggested Citation

  • Lansford, Notie H. & Jones, Lonnie L., 1995. "Marginal Price of Lake Recreation and Aesthetics: An Hedonic Approach," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 27(1), pages 212-223, July.
    • Handle: RePEc:cup:jagaec:v:27:y:1995:i:01:p:212-223_01
    as

    Download full text from publisher

    File URL: https://www.cambridge.org/core/product/identifier/S107407080001974X/type/journal_article
    File Function: link to article abstract page
    Download Restriction: no
    ---><---

    Other versions of this item:

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cup:jagaec:v:27:y:1995:i:01:p:212-223_01. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Kirk Stebbing (email available below). General contact details of provider: https://www.cambridge.org/aae .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.