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Disentangling Access and View Amenities in Access-Restricted Coastal Residential Communities

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  • Morgan, O. Ashton
  • Hamilton, Stuart E.

Abstract

In coastal communities with uniform flood risk, amenity value is comprised of two components – view and access. Having controlled for view, it is assumed that any residual amenity value represents the benefit derived from accessing the beach for leisure/recreational purposes. However, as properties closer to the beach typically have improved viewsheds, the two amenities are highly correlated, and disentangling view and access is problematical. A spatial autoregressive hedonic model captures ease of beach access via a network distance parameter that varies independently from property viewshed, collinearity effects are mitigated, and access and view can be disentangled.

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  • Morgan, O. Ashton & Hamilton, Stuart E., 2011. "Disentangling Access and View Amenities in Access-Restricted Coastal Residential Communities," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 43(2), pages 157-166, May.
    • Handle: RePEc:cup:jagaec:v:43:y:2011:i:02:p:157-166_00
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    Cited by:

    1. Paul Hindsley & Stuart Hamilton & O. Morgan, 2013. "Gulf Views: Toward a Better Understanding of Viewshed Scope in Hedonic Property Models," The Journal of Real Estate Finance and Economics, Springer, vol. 47(3), pages 489-505, October.

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