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Using contingent valuation to measure property value impacts

Author

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  • Clifford Lipscomb

Abstract

Purpose - The purpose of this paper is to measure the impact of a proposed biomass facility on prospective property values using the contingent valuation method. Design/methodology/approach - The paper uses a web‐based survey approach to measure respondents' reactions to two scenarios: one that describes the study area currently and another that also mentions the proposed biomass facility. Findings - The paper found no statistically significant difference in the respondents' WTP for a house based on whether they read about the baseline scenario (no mention of the biomass plant) or the proposed biomass plant. Research limitations/implications - The survey sampled males, younger people, and those with higher incomes relative to the county where the facility will be built. A few respondents, who were offered very low bids (5 percent and 15 percent of their current home value), may not have understood the question or were exhibiting strategic behavior. Originality/value - This is one of the few studies that uses contingent valuation to measure property value impacts.

Suggested Citation

  • Clifford Lipscomb, 2011. "Using contingent valuation to measure property value impacts," Journal of Property Investment & Finance, Emerald Group Publishing Limited, vol. 29(4/5), pages 448-459, July.
    • Handle: RePEc:eme:jpifpp:v:29:y:2011:i:4/5:p:448-459
    DOI: 10.1108/14635781111150330
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    Citations

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    Cited by:

    1. Lipscomb, Clifford & Wang, Yongsheng & Kilpatrick, Sarah J., 2012. "Unconvensional Shale Gas Development and Real Estate Valuation Issues," The Review of Regional Studies, Southern Regional Science Association, vol. 42(2), pages 161-175, Summer.
    2. Lai, John & Wang, H. Holly, 2016. "Producers’ Willingness to Adopt an Alternative Technology: Market Opportunities to Export Pork to China," 2016 Annual Meeting, July 31-August 2, Boston, Massachusetts 236054, Agricultural and Applied Economics Association.
    3. Fadipe, Ademoye Emmanuel Akinboboye & Adigun, A.A. & Animashaun, Jubril Olayinka, 2014. "Assessment of Rural Farming Households WTP for Fertilizers and Agrochemicals in Kwawara State, Nigeria," International Journal of Agricultural Management and Development (IJAMAD), Iranian Association of Agricultural Economics, vol. 4(2), February.
    4. Samuel D. Zapata & Carlos E. Carpio, 2014. "The theoretical structure of producer willingness to pay estimates," Agricultural Economics, International Association of Agricultural Economists, vol. 45(5), pages 613-623, September.
    5. Welsch, Heinz, 2016. "Electricity Externalities, Siting, and the Energy Mix: A Survey," International Review of Environmental and Resource Economics, now publishers, vol. 10(1), pages 57-94, November.
    6. Menegaki, Angeliki, N. & Olsen, Søren Bøye & Tsagarakis, Konstantinos P., 2016. "Towards a common standard – A reporting checklist for web-based stated preference valuation surveys and a critique for mode surveys," Journal of choice modelling, Elsevier, vol. 18(C), pages 18-50.
    7. Zapata, Samuel D. & Carpio, Carlos E., 2014. "Distribution-free Methods for Estimation of Willingness to Pay Models Using Discrete Response Valuation Data," 2014 Annual Meeting, July 27-29, 2014, Minneapolis, Minnesota 170453, Agricultural and Applied Economics Association.

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