Estimating the Demand for Tree Canopy: A Second-Stage Hedonic Price Analysis in Portland, Oregon
The benefits of large patches of tree canopy are estimated by applying a hedonic price model to the sale of single-family residential properties in Portland, Oregon. The first-stage analysis provides evidence of diminishing returns from increasing tree canopy past a certain level. The second-stage analysis uses a survey of property owners’ preferences and socioeconomic characteristics to overcome the problem of endogeneity. Average benefit estimates for the mean canopy cover within mile of properties in the study area, using the second-stage model, are between 0.75% and 2.52% of the mean sale price.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Noelwah R. Netusil, 2005. "The Effect of Environmental Zoning and Amenities on Property Values: Portland, Oregon," Land Economics, University of Wisconsin Press, vol. 81(2).
- 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..
- Geoghegan, Jacqueline & Wainger, Lisa A. & Bockstael, Nancy E., 1997. "Spatial landscape indices in a hedonic framework: an ecological economics analysis using GIS," Ecological Economics, Elsevier, vol. 23(3), pages 251-264, December.
- Kent F. Kovacs & Douglas M. Larson, 2008.
"Identifying Individual Discount Rates and Valuing Public Open Space with Stated-Preference Models,"
University of Wisconsin Press, vol. 84(2), pages 209-224.
- Kovacs, Kent F. & Larson, Douglas M., 2007. "Identifying Individual Discount Rates and Valuing Public Open Space with Stated Preference Models," 2007 Annual Meeting, July 29-August 1, 2007, Portland, Oregon TN 9743, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
- Mueller, Julie M. & Loomis, John B., 2008. "Spatial Dependence in Hedonic Property Models: Do Different Corrections For Spatial Dependence Result in Economically Significant Differences in Estimated Implicit Prices?," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 33(2), August.
- Sudip Chattopadhyay, 1999. "Estimating the Demand for Air Quality: New Evidence Based on the Chicago Housing Market," Land Economics, University of Wisconsin Press, vol. 75(1), pages 22-38.
- Brent L. Mahan & BStephen Polasky & Richard M. Adams, 2000. "Valuing Urban Wetlands: A Property Price Approach," Land Economics, University of Wisconsin Press, vol. 76(1), pages 100-113.
When requesting a correction, please mention this item's handle: RePEc:uwp:landec:v:86:y:2010:i:2:p:281-293. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()
If references are entirely missing, you can add them using this form.