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Community Valuations of Environmental Qality in Coastal Lakes: Lake Illawarra Case Study

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Abstract

This study illustrates how the hedonic pricing method can measure the value of environmental assets in an urban setting. A HPM valuation, utilising relatively easily accessible secondary data, and a semi-logarithmic regression form, is used. The value achieved was substantially greater than either expenditures to date or the actuarial valuation of Lake Illawarra. The study demonstrates the applicability of the technique and recommends its further development and use for this type of public decision-making. A range of other data was also generated that adds to the usefulness of this approach for general planning purposes.

Suggested Citation

  • Hodgkinson, Ann & Valadkhani, Abbas, 2009. "Community Valuations of Environmental Qality in Coastal Lakes: Lake Illawarra Case Study," Economics Working Papers wp09-03, School of Economics, University of Wollongong, NSW, Australia.
    • Handle: RePEc:uow:depec1:wp09-03
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    Cited by:

    1. Jacqueline Robinson, 2013. "Valuing environmental attributes of MPAs in the market price of real estate, Moreton Bay, Queensland, Australia," Discussion Papers Series 496, School of Economics, University of Queensland, Australia.
    2. Prasad Neelawala & Clevo Wilson & Wasantha Athukorala, 2013. "The impact of mining and smelting activities on property values: a study of Mount Isa city, Queensland, Australia," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 57(1), pages 60-78, January.

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    More about this item

    Keywords

    Hedonic pricing model; Environmental quality; evaluation; New South Wales (NSW); Australia;
    All these keywords.

    JEL classification:

    • C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects

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