Community Valuations of Environmental Qality in Coastal Lakes: Lake Illawarra Case Study
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.
|Date of creation:||2009|
|Contact details of provider:|| Postal: School of Economics, University of Wollongong, Northfields Avenue, Wollongong NSW 2522 Australia|
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- Acharya, Gayatri & Bennett, Lynne Lewis, 2001. "Valuing Open Space and Land-Use Patterns in Urban Watersheds," The Journal of Real Estate Finance and Economics, Springer, vol. 22(2-3), pages 221-237, March-May.
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- Hill, Elizabeth & Pugh, Sam & Mullen, Jeffrey D., 2007. "Use of the Hedonic Method to Estimate Lake Sedimentation Impacts on Property Values in Mountain Park and Roswell, GA," 2007 Annual Meeting, July 29-August 1, 2007, Portland, Oregon TN 9950, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
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"Marginal Price Of Lake Recreation And Aesthetics: An Hedonic Approach,"
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Southern Agricultural Economics Association, vol. 27(01), July.
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- Kevin J. Boyle & P. Joan Poor & Laura O. Taylor, 1999. "Estimating the Demand for Protecting Freshwater Lakes from Eutrophication," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 81(5), pages 1118-1122.
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