Disentangling Access and View Amenities in Access-restricted Coastal Residential Communities
In small 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 households from accessing the beach for leisure or 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. We posit that for many coastal communities, access is restricted to designated public access points, precluding local residents from accessing the beach area directly from their property. To appropriately account for restricted access, we incorporate a network distance access measure into a spatial autoregressive hedonic model to capture ease of beach access for local residents. Our findings suggest that, as network distance varies independently from property viewshed, collinearity effects are mitigated, and access and view can be disentangled. Key Words:
|Date of creation:||2009|
|Date of revision:|
|Contact details of provider:|| Postal: Thelma C. Raley Hall, Boone, North Carolina 28608|
Web page: http://economics.appstate.edu/
More information through EDIRC
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.:
- Okmyung Biny & Stephen Polasky, 2004. "Effects of Flood Hazards on Property Values: Evidence Before and After Hurricane Floyd," Land Economics, University of Wisconsin Press, vol. 80(4).
- Robert W. Paterson & Kevin J. Boyle, 2002. "Out of Sight, Out of Mind? Using GIS to Incorporate Visibility in Hedonic Property Value Models," Land Economics, University of Wisconsin Press, vol. 78(3), pages 417-425.
- Lansford, Notie H., Jr. & Jones, Lonnie L., 1995.
"Marginal Price Of Lake Recreation And Aesthetics: An Hedonic Approach,"
Journal of Agricultural and Applied Economics,
Southern Agricultural Economics Association, vol. 27(01), July.
- Lansford, Notie H. & Jones, Lonnie L., 1995. "Marginal Price of Lake Recreation and Aesthetics: An Hedonic Approach," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 27(01), pages 212-223, July.
- Doss, Cheryl R. & Taff, Steven J., 1996. "The Influence Of Wetland Type And Wetland Proximity On Residential Property Values," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 21(01), July.
- Jeffrey Pompe, 2008. "The Effect of a Gated Community on Property and Beach Amenity Valuation," Land Economics, University of Wisconsin Press, vol. 84(3), pages 423-433.
- Elena G. Irwin, 2002. "Interacting agents, spatial externalities and the evolution of residential land use patterns," Journal of Economic Geography, Oxford University Press, vol. 2(1), pages 31-54, January.
- Kim, Chong Won & Phipps, Tim T. & Anselin, Luc, 1998.
"Measuring The Benefits Of Air Quality Improvement: A Spatial Hedonic Approach,"
1998 Annual meeting, August 2-5, Salt Lake City, UT
20959, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
- Won Kim, Chong & Phipps, Tim T. & Anselin, Luc, 2003. "Measuring the benefits of air quality improvement: a spatial hedonic approach," Journal of Environmental Economics and Management, Elsevier, vol. 45(1), pages 24-39, January.
- Michael T. Bond & Vicky L. Seiler & Michael J. Seiler, 2002. "Residential Real Estate Prices: A Room with a View," Journal of Real Estate Research, American Real Estate Society, vol. 23(1/2), pages 129-138.
- Steven C. BOURASSA & Martin HOESLI & Vincent S. PENG, 2002.
"Do Housing Submarkets Really Matter?,"
FAME Research Paper Series
rp58, International Center for Financial Asset Management and Engineering.
- Okmyung Bin & Thomas W. Crawford & Jamie B. Kruse & Craig E. Landry, 2008. "Viewscapes and Flood Hazard: Coastal Housing Market Response to Amenities and Risk," Land Economics, University of Wisconsin Press, vol. 84(3), pages 434-448.
- Benson, Earl D, et al, 1998. "Pricing Residential Amenities: The Value of a View," The Journal of Real Estate Finance and Economics, Springer, vol. 16(1), pages 55-73, January.
- 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..
When requesting a correction, please mention this item's handle: RePEc:apl:wpaper:09-10. 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: (O. Ashton Morgan)
If references are entirely missing, you can add them using this form.