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GIS-Based Estimation of Housing Amenities: The Case of High Grounds and Stagnant Streams

Author

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  • Shibashis Mukherjee

    (Department of Agricultural and Consumer Economics, University of Illinois at Urbana Champaign)

  • Arthur J. Caplan

    (Department of Applied Economics, Utah State University)

Abstract

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 parcel’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.

Suggested Citation

  • Shibashis Mukherjee & Arthur J. Caplan, 2010. "GIS-Based Estimation of Housing Amenities: The Case of High Grounds and Stagnant Streams," Working Papers 2010-01, Utah State University, Department of Economics.
    • Handle: RePEc:usu:wpaper:2010-01
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    Cited by:

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    2. Toke Panduro & Bo Thorsen, 2014. "Evaluating two model reduction approaches for large scale hedonic models sensitive to omitted variables and multicollinearity," Letters in Spatial and Resource Sciences, Springer, vol. 7(2), pages 85-102, July.

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    JEL classification:

    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
    • Q59 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Other

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