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The Contribution Of Environmental Amenities To Agricultural Land Values: Hedonic Modelling Using Geographic Information Systems Data

Author

Listed:
  • McLeod, Donald M.
  • Bastian, Christopher T.
  • Germino, Matthew J.
  • Reiners, William A.
  • Blasko, Benedict J.

Abstract

Geographic Information Systems (GIS) data are used in a hedonic model to measure the impact of recreational and scenic amenities on agricultural land values. Results indicate agricultural land values are determined by environmental amenities as well as production attributes. Significant amenity variables included scenic view, elk habitat and fishery productivity.

Suggested Citation

  • McLeod, Donald M. & Bastian, Christopher T. & Germino, Matthew J. & Reiners, William A. & Blasko, Benedict J., 1999. "The Contribution Of Environmental Amenities To Agricultural Land Values: Hedonic Modelling Using Geographic Information Systems Data," 1999 Annual Meeting, July 11-14, 1999, Fargo, ND 35707, Western Agricultural Economics Association.
  • Handle: RePEc:ags:waeafa:35707
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    File URL: http://purl.umn.edu/35707
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    References listed on IDEAS

    as
    1. Gertel, Karl & Atkinson, Linda, 1993. "Structural Models and Automated Alternatives for Forecasting Farmland Prices," Technical Bulletins 156756, United States Department of Agriculture, Economic Research Service.
    2. Timothy J. Bartik, 2008. "Measuring the Benefits of Amenity Improvements in Hedonic Price Models," Book chapters authored by Upjohn Institute researchers,in: Richard E. Just & Darrell L. Hueth & Andrew Schmitz (ed.), Applied Welfare Economics, pages 643-654 W.E. Upjohn Institute for Employment Research.
    3. Ronald W. Spahr & Mark A. Sunderman, 1998. "Property Tax Inequities on Ranch and Farm Properties," Land Economics, University of Wisconsin Press, vol. 74(3), pages 374-389.
    4. 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..
    5. Randall, Alan & Castle, Emery N., 1985. "Land resources and land markets," Handbook of Natural Resource and Energy Economics,in: A. V. Kneeseā€  & J. L. Sweeney (ed.), Handbook of Natural Resource and Energy Economics, edition 1, volume 2, chapter 13, pages 571-620 Elsevier.
    6. Torell, L. Allen & Doll, John P., 1991. "Public Land Policy And The Value Of Grazing Permits," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 16(01), July.
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