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Hedonic Analysis of Effects of a Nonnative Invader (Myriophyllum heterophyllum) on New Hampshire (USA) Lakefront Properties

Author

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  • John M. Halstead

    (University of New Hampshire, Durham, New Hampshire 03824 603-862-3914, Department of Resource Economics and Development)

  • Jodi Michaud

    (University of New Hampshire, Durham, New Hampshire 03824 603-862-3914, Department of Resource Economics and Development)

  • Shanna Hallas-Burt

    (University of New Hampshire, Durham, New Hampshire 03824 603-862-3914, Department of Resource Economics and Development)

  • Julie P. Gibbs

    (U.S. Army Corps of Engineers, Fort Worth, Texas, Regional Economist)

Abstract

Introduced species are a major threat to the planet’s ecosystems and one of the major causes of species extinction. This study deals with some of the economic impacts of one of these “invaders,” variable milfoil. Variable milfoil can clog waterbodies, cause boating and swimming hazards, and crowd out native species. This study analyzed the effects of variable milfoil on shoreline property values at selected New Hampshire lakes. Results indicate that property values on lakes experiencing milfoil infestation may be considerably lower than similar properties on uninfested lakes. Results are highly sensitive to specification (variable selection) of the hedonic equation.

Suggested Citation

  • John M. Halstead & Jodi Michaud & Shanna Hallas-Burt & Julie P. Gibbs, 2003. "Hedonic Analysis of Effects of a Nonnative Invader (Myriophyllum heterophyllum) on New Hampshire (USA) Lakefront Properties," Environmental Management, Springer, vol. 32(3), pages 391-398, September.
    • Handle: RePEc:spr:envman:v:32:y:2003:i:3:d:10.1007_s00267-003-3023-5
    DOI: 10.1007/s00267-003-3023-5
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