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The costs and benefits of providing open space in cities

  • Jan Rouwendal

    ()

  • Willemijn Weijschede- v.d. Straaten

    ()

We use the monocentric model of a city to derive a simple cost-benefit rule for the optimal provision of open space. Although many researchers have investigated the value of open space in cities, few of them have compared it to the costs of providing this amenity. The rule derived here is essentially the Samuelson-condition for the optimal provision of a public good, with the price of land as the appropriate indicator for its cost. The condition is made operational by computing the willingness to pay for public and private space on the basis of empirical hedonic price functions for three Dutch cities. The conclusions with respect to the optimal provision of open space differ between the three cities. Further investigation reveals that willingness to pay for parks and public gardens increases with income, although not as fast as that for private residential space.

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Paper provided by CPB Netherlands Bureau for Economic Policy Analysis in its series CPB Discussion Paper with number 98.

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Date of creation: Jan 2008
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Handle: RePEc:cpb:discus:98
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  1. Cheshire, Paul & Sheppard, Stephen, 1998. "Estimating the Demand for Housing, Land, and Neighbourhood Characteristics," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 60(3), pages 357-82, August.
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  11. Kahn, Shulamit & Lang, Kevin, 1988. "Efficient Estimation of Structural Hedonic Systems," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 29(1), pages 157-66, February.
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