GIS-Based Estimation of Housing Amenities: The Case of High Grounds and Stagnant Streams
We use GIS and econometric methods to estimate the marginal implicit values of environmental amenities associated with residential land parcels in the mountain town of Logan, Utah. Amenities include proximity to open spaces (such as parks, golf courses and lakes), commercial zones, major roads, streams, and general visibility of surrounding topography in the valley as determined by the elevation of the land parcel. The amenity value estimates are corrected for spatial autocorrelation. We find a positive relationship between a parcelâ€™s value and its elevation, and a negative relationship between value and adjacency to a stagnant stream. To our knowledge, this is the first hedonic study to assess the effect of stream stagnancy on land value.
References listed on IDEAS
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.:
- Gawande, Kishore & Jenkins-Smith, Hank, 2001. "Nuclear Waste Transport and Residential Property Values: Estimating the Effects of Perceived Risks," Journal of Environmental Economics and Management, Elsevier, vol. 42(2), pages 207-233, September.
- Timothy J. Fik & David C. Ling & Gordon F. Mulligan, 2003. "Modeling Spatial Variation in Housing Prices: A Variable Interaction Approach," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 31(4), pages 623-646, December.
- Phil Graves & James C. Murdoch & Mark A. Thayer & Don Waldman, 1988. "The Robustness of Hedonic Price Estimation: Urban Air Quality," Land Economics, University of Wisconsin Press, vol. 64(3), pages 220-233.
- Benson, Earl D & Hansen, Julia L. & Schwartz Jr., Arthur & Smersh, Greg T., 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.
- Ihlanfeldt, Keith R. & Martinez-Vazquez, Jorge, 1986. "Alternative value estimates of owner-occupied housing: Evidence on sample selection bias and systematic errors," Journal of Urban Economics, Elsevier, vol. 20(3), pages 356-369, November.
- Sengupta, Sanchita & Osgood, Daniel Edward, 2003. "The value of remoteness: a hedonic estimation of ranchette prices," Ecological Economics, Elsevier, vol. 44(1), pages 91-103, February.
- Jean Cavailhès & Thierry Brossard & Jean-Christophe Foltête & Mohamed Hilal & Daniel Joly & François-Pierre Tourneux & Céline Tritz & Pierre Wavresky, 2009. "GIS-Based Hedonic Pricing of Landscape," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 44(4), pages 571-590, December.
When requesting a correction, please mention this item's handle: RePEc:usu:wpaper:2010-01. 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: (John Gilbert)
If references are entirely missing, you can add them using this form.