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Publication Information

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Title: Accounting for heterogeneity of public lands in hedonic property models

Author: Ham, Charlotte; Champ, Patricia A.; Loomis, John B.; Reich, Robin M.;

Date: 2012

Source: Land Economics. 88(3): 444-456.

Publication Series: Scientific Journal (JRNL)

Description: Open space lands, national forests in particular, are usually treated as homogeneous entities in hedonic price studies. Failure to account for the heterogeneous nature of public open spaces may result in inappropriate inferences about the benefits of proximate location to such lands. In this study the hedonic price method is used to estimate the marginal values for proximity to the Pike National Forest. The results indicate that specifying the forest as homogeneous overstates the benefits for homes within two miles relative to specifying the forest based on land use characteristics, because the significant negative effect from noise-intensive activities is omitted.

Keywords: open space, heterogeneity, hedonic property models

Publication Notes:

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  • This article was written and prepared by U.S. Government employees on official time, and is therefore in the public domain.

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Ham, Charlotte; Champ, Patricia A.; Loomis, John B.; Reich, Robin M. 2012. Accounting for heterogeneity of public lands in hedonic property models. Land Economics. 88(3): 444-456.

 


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