Effects Of Local Development Pressure On Land Prices: A Spatial Economic Approach
We conduct a study to examine the effects of local development pressure and other factors on the value of urban-fringe land parcels. Multiple regression spatial models were estimated using parcel- level data from Delaware County, Ohio. The empirical results provide evidence that such factors as man-made and natural features are relevant in determining property values. The econometric findings indicate that local development pressure contributes profoundly to an increase in current land prices. These results shed light on the magnitude of the effects of recently developed land and provide insights into policies to preserve farmland and the associated environmental benefits.
|Date of creation:||2002|
|Date of revision:|
|Contact details of provider:|| Postal: 555 East Wells Street, Suite 1100, Milwaukee, Wisconsin 53202|
Phone: (414) 918-3190
Fax: (414) 276-3349
Web page: http://www.aaea.org
More information through EDIRC
References listed on IDEAS
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.:
- Elad, Renata L. & Clifton, Ivery D. & Epperson, James E., 1994.
"Hedonic Estimation Applied To The Farmland Market In Georgia,"
Journal of Agricultural and Applied Economics,
Southern Agricultural Economics Association, vol. 26(02), December.
- Elad, R.L. & Clifton, I.D. & Epperson, J.E., 1994. "Hedonic Estimation Applied to the Farmland Market in Georgia," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 26(02), pages 351-366, December.
- Kathleen P. Bell & Nancy E. Bockstael, 2000. "Applying the Generalized-Moments Estimation Approach to Spatial Problems Involving Microlevel Data," The Review of Economics and Statistics, MIT Press, vol. 82(1), pages 72-82, February.
- Cropper, Maureen L & Deck, Leland B & McConnell, Kenneth E, 1988. "On the Choice of Functional Form for Hedonic Price Functions," The Review of Economics and Statistics, MIT Press, vol. 70(4), pages 668-75, November.
- Karl Guntermann, 1997. "Residential Land Prices Prior to Development," Journal of Real Estate Research, American Real Estate Society, vol. 14(1), pages 1-18.
- 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..
- David L. Chicoine, 1981. "Farmland Values at the Urban Fringe: An Analysis of Sale Prices," Land Economics, University of Wisconsin Press, vol. 57(3), pages 353-362.
- Kelvin J. Lancaster, 1966. "A New Approach to Consumer Theory," Journal of Political Economy, University of Chicago Press, vol. 74, pages 132.
- Tzu-Chin Lin & Alan W. Evans, 2000. "The Relationship between the Price of Land and Size of Plot When Plots Are Small," Land Economics, University of Wisconsin Press, vol. 76(3), pages 386-394.
- Mendelsohn, Robert & Nordhaus, William D & Shaw, Daigee, 1994. "The Impact of Global Warming on Agriculture: A Ricardian Analysis," American Economic Review, American Economic Association, vol. 84(4), pages 753-71, September.
- James P. Lesage, 1997. "Bayesian Estimation of Spatial Autoregressive Models," International Regional Science Review, SAGE Publishing, vol. 20(1-2), pages 113-129, April.
- Capozza, Dennis R. & Helsley, Robert W., 1989. "The fundamentals of land prices and urban growth," Journal of Urban Economics, Elsevier, vol. 26(3), pages 295-306, November.
- Brownstone, David & De Vany, Arthur, 1991. "Zoning, Returns to Scale, and the Value of Undeveloped Land," The Review of Economics and Statistics, MIT Press, vol. 73(4), pages 699-704, November.
- Hans R. Isakson, 1997. "An Empirical Analysis of the Determinants of the Value of Vacant Land," Journal of Real Estate Research, American Real Estate Society, vol. 13(2), pages 103-114.
- Colwell, Peter F & Sirmans, C F, 1993. "A Comment on Zoning, Returns to Scale, and the Value of Undeveloped Land," The Review of Economics and Statistics, MIT Press, vol. 75(4), pages 783-86, November.
When requesting a correction, please mention this item's handle: RePEc:ags:aaea02:19767. 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: (AgEcon Search)
If references are entirely missing, you can add them using this form.