IDEAS home Printed from https://ideas.repec.org/a/rre/publsh/v25y1995i3p271-286.html
   My bibliography  Save this article

The Value Of Beach Nourishment To Property Owners: Storm Damage Reduction Benefits

Author

Listed:
  • Jeffrey J. Pompe

    (School of Business, Francis Marion University)

  • James R. Rinehart

    (School of Business, Francis Marion University Journal: The Review of Regional Studies)

Abstract

This study offers a method for estimating the storm damage reduction benefits accruing to property owners from beach nourishment. We use a hedonic pricing model to estimate the increased protection value that wider beaches provide for single-fa mily homes in two South Carolina oceanfront communities. These storm damage reduction benefits accrue not only to oceanfront property that suffers the most damage, but also to properties farther back. We find that a proposed Army Corps of Engineers' nourishment project will produce approximately $63.8 million of cumulative benefits to owners of single-family homes, which translates into a benefit/cost ratio of 1.96.

Suggested Citation

  • Jeffrey J. Pompe & James R. Rinehart, 1995. "The Value Of Beach Nourishment To Property Owners: Storm Damage Reduction Benefits," The Review of Regional Studies, Southern Regional Science Association, vol. 25(3), pages 271-286, Winter.
    • Handle: RePEc:rre:publsh:v:25:y:1995:i:3:p:271-286
    as

    Download full text from publisher

    File URL: http://journal.srsa.org/ojs/index.php/RRS/article/view/25.3.3/pdf
    File Function: To View On Journal Page
    Download Restriction: no
    File URL: http://journal.srsa.org/ojs/index.php/RRS/article/download/25.3.3/454
    File Function: To Download Article
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Cassel, Eric & Mendelsohn, Robert, 1985. "The choice of functional forms for hedonic price equations: Comment," Journal of Urban Economics, Elsevier, vol. 18(2), pages 135-142, September.
    2. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
    3. Edwards, Steven F., 1989. "On Estimating Household Demand For Outdoor Recreation From Property Values: An Exploration," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, vol. 18(2), pages 1-9, October.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Rakesh Paliwal & Gejo Geevarghese & P. Ram Babu & P. Khanna, 1999. "Valuation of Landmass Degradation Using Fuzzy Hedonic Method: A Case Study of National Capital Region," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 14(4), pages 519-543, December.
    2. Gopalakrishnan, Sathya & McNamara, Dylan & Smith, Martin D. & Murray, A. Brad, 2012. "The Effect Of Stochastic Storms On Optimal Beach Management," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 271515, Agricultural and Applied Economics Association.
    3. Rose, Steven K., 1999. "Non-Market Valuation Techniques: The State of the Art," Working Papers 127688, Cornell University, Department of Applied Economics and Management.
    4. Smith, Martin D. & Slott, Jordan M. & McNamara, Dylan & Brad Murray, A., 2009. "Beach nourishment as a dynamic capital accumulation problem," Journal of Environmental Economics and Management, Elsevier, vol. 58(1), pages 58-71, July.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Choumert, Johanna & Stage, Jesper & Uwera, Claudine, 2014. "Access to water as determinant of rental values: A housing hedonic analysis in Rwanda," Journal of Housing Economics, Elsevier, vol. 26(C), pages 48-54.
    2. Mai, Nhat Chi, 2018. "도이모이 이후 베트남의 주거 이동, 선택, 가격 결정요인 연구: 호치민시 사례 중심으로," OSF Preprints 6kdfy, Center for Open Science.
    3. Johanna CHOUMERT & Jesper STAGE & Claudine UWERA, 2014. "Access to water as a determinant of rental values: A hedonic analysis in Rwanda," Working Papers 201401, CERDI.
    4. Coenders, Germà & Espinet, Josep Maria & Saez, Marc, 2001. "Predicting random level and seasonality of hotel prices. A structural equation growth curve approach," Working Papers of the Department of Economics, University of Girona 1, Department of Economics, University of Girona.
    5. Josep Mª Espinet Rius, 2018. "Global and local pricing strategies in the cruise industry," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 17(5), pages 329-340, October.
    6. Wisdom Akpalu & Ametefee K. Normanyo, 2016. "Gold mining pollution and the cost of private healthcare: The case of Ghana," WIDER Working Paper Series 121, World Institute for Development Economic Research (UNU-WIDER).
    7. Rickard Enström & Olof Netzell, 2008. "Can Space Syntax Help Us in Understanding the Intraurban Office Rent Pattern? Accessibility and Rents in Downtown Stockholm," The Journal of Real Estate Finance and Economics, Springer, vol. 36(3), pages 289-305, April.
    8. Hao Wu & Hongzan Jiao & Yang Yu & Zhigang Li & Zhenghong Peng & Lingbo Liu & Zheng Zeng, 2018. "Influence Factors and Regression Model of Urban Housing Prices Based on Internet Open Access Data," Sustainability, MDPI, vol. 10(5), pages 1-17, May.
    9. Kai Liu & Toshiaki Ichinose, 2017. "Hedonic Price Modeling of New Residential Property Values in Xi’an City, China," International Journal of Social Science Studies, Redfame publishing, vol. 5(9), pages 42-56, September.
    10. Gonzalez, Fidel & Leipnik, Mark & Mazumder, Diya, 2013. "How much are urban residents in Mexico willing to pay for cleaner air?," Environment and Development Economics, Cambridge University Press, vol. 18(3), pages 354-379, June.
    11. Wasantha Athukorala & Wade Martin & Prasad Neelawala & Darshana Rajapaksa & Clevo Wilson, 2016. "Impact Of Wildfires And Floods On Property Values: A Before And After Analysis," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 61(01), pages 1-23, March.
    12. Andrea Baranzini & José V. Ramirez, 2005. "Paying for Quietness: The Impact of Noise on Geneva Rents," Urban Studies, Urban Studies Journal Limited, vol. 42(4), pages 633-646, April.
    13. Tse, Chung Yi & Chan, Alex W. H., 2003. "Estimating the commuting cost and commuting time property price gradients," Regional Science and Urban Economics, Elsevier, vol. 33(6), pages 745-767, October.
    14. Junsoo Lee & Seung-Jun Kwak & John List, 2000. "Average Derivative Estimation of Hedonic Price Models," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 16(1), pages 81-91, May.
    15. Neelawala, Prasad & Wilson, Clevo & Athukorala, Wasantha, 2013. "The impact of mining and smelting activities on property values: a study of Mount Isa city, Queensland, Australia," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 57(1), pages 1-19.
    16. Anthony Amoah & Peter G. Moffatt, 2017. "Estimating demand for reliable piped-water services in urban Ghana: An application of competing valuation approaches," University of East Anglia School of Economics Working Paper Series 2017-01, School of Economics, University of East Anglia, Norwich, UK..
    17. Wieser, Robert, 2009. "Parameterstabilität in hedonischen Bodenpreismodellen [Stability of Parameters in Hedonic Urban Land Price Models]," MPRA Paper 65859, University Library of Munich, Germany.
    18. Barrios, Salvador & Ibañez Rivas, J. Nicolás, 2014. "Climate Amenities and Adaptation to Climate Change: A Hedonic-Travel Cost Approach for Europe," Climate Change and Sustainable Development 165790, Fondazione Eni Enrico Mattei (FEEM).
    19. Mick Silver, 2016. "How to Better Measure Hedonic Residential Property Price Indexes," IMF Working Papers 2016/213, International Monetary Fund.
    20. Carolyn Kousky, 2010. "Learning from Extreme Events: Risk Perceptions after the Flood," Land Economics, University of Wisconsin Press, vol. 86(3).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rre:publsh:v:25:y:1995:i:3:p:271-286. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Tammy Leonard & Lei Zhang (email available below). General contact details of provider: http://www.srsa.org .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.