IDEAS home Printed from https://ideas.repec.org/a/taf/apeclt/v12y2005i10p597-601.html
   My bibliography  Save this article

A semiparametric hedonic model for valuing wetlands

Author

Listed:
  • Okmyung Bin

Abstract

A semiparametric hedonic price function is estimated to examine the effects of proximity to wetlands on property values using extensive wetland inventory and housing market data from Portland-Oregon, USA. The semiparametric method used in this study allows for estimation of the hedonic price function with flexible functional form and is computationally easier than most non-parametric models. Four general categories of wetlands - open water, emergent vegetation, forested and scrub shrub wetlands - are differentiated. The results indicate that proximity to open water wetlands has a positive association with property values, while the other types of wetlands have either a negative or insignificant relationship.

Suggested Citation

  • Okmyung Bin, 2005. "A semiparametric hedonic model for valuing wetlands," Applied Economics Letters, Taylor & Francis Journals, vol. 12(10), pages 597-601.
    • Handle: RePEc:taf:apeclt:v:12:y:2005:i:10:p:597-601
    DOI: 10.1080/13504850500188505
    as

    Download full text from publisher

    File URL: http://www.informaworld.com/openurl?genre=article&doi=10.1080/13504850500188505&magic=repec&7C&7C8674ECAB8BB840C6AD35DC6213A474B5
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/13504850500188505?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

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


    Cited by:

    1. Nicodemo, Catia & Raya, Josep Maria, 2012. "Change in the distribution of house prices across Spanish cities," Regional Science and Urban Economics, Elsevier, vol. 42(4), pages 739-748.
    2. Tapsuwan, Sorada & Polyakov, Maksym & Bark, Rosalind & Nolan, Martin, 2015. "Valuing the Barmah–Millewa Forest and in stream river flows: A spatial heteroskedasticity and autocorrelation consistent (SHAC) approach," Ecological Economics, Elsevier, vol. 110(C), pages 98-105.
    3. Bill Provencher & Helen Sarakinos & Tanya Meyer, 2008. "Does Small Dam Removal Affect Local Property Values? An Empirical Analysis," Contemporary Economic Policy, Western Economic Association International, vol. 26(2), pages 187-197, April.
    4. Marisa J. Mazzotta & Elena Besedin & Ann E. Speers, 2014. "A Meta-Analysis of Hedonic Studies to Assess the Property Value Effects of Low Impact Development," Resources, MDPI, vol. 3(1), pages 1-31, January.
    5. Hans R.A. Koster & Jan Rouwendal, 2012. "The Impact Of Mixed Land Use On Residential Property Values," Journal of Regional Science, Wiley Blackwell, vol. 52(5), pages 733-761, December.
    6. Provencher, Bill & Sarakinos, Helen & Meyer, Tanya, 2006. "Does Small Dam Removal Affect Local Property Values? An Empirical Analysis," Staff Papers 10280, University of Wisconsin-Madison, Department of Agricultural and Applied Economics.
    7. Matthew Richardson & Pengfei Liu & Michael Eggleton, 2022. "Valuation of Wetland Restoration: Evidence from the Housing Market in Arkansas," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 81(3), pages 649-683, March.
    8. Akbari, Saloomeh & Polyakov, Maksym & Iftekhar, Md Sayed, 2023. "Capitalised nonmarket benefits of multifunctional water-sensitive urban infrastructure: A case of living streams," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 67(04), August.
    9. Brovencher, Bill & Sarakinos, Helen & Meyer, Tanya, 2006. "Does Small Dam Removal Affect Local Property Values? An Empirical Analysis," Staff Paper Series 501, University of Wisconsin, Agricultural and Applied Economics.
    10. Ermanno Affuso & John Reid Cummings & Donald Alex Beebe & Steven R. Schultze, 2022. "Endogenous, Regime-Switching Hedonic Estimation of Commercial Waterway Water Quality Impact on Home Values in the Alabama Black Belt," Sustainability, MDPI, vol. 14(18), pages 1-17, September.
    11. Muriel Travers & Emmanuel Bonnet & Morgane Chevé & Gildas Appéré, 2009. "Perception des risques industriels dans une zone estuarienne : une analyse hédoniste spatiale," Économie et Prévision, Programme National Persée, vol. 190(4), pages 135-158.
    12. Song Zhang & Mark Duijn & Arno J. Vlist, 2023. "Tenant Mix and Retail Rents in High Street Shopping Districts," The Journal of Real Estate Finance and Economics, Springer, vol. 67(1), pages 72-107, July.
    13. Jagoda Adamus, 2023. "How Much Are Public Spaces Worth? Non-Market Valuation Methods in Valuing Public Spaces," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 2, pages 66-89.
    14. Jose Torres-Pruñonosa & Pablo García-Estévez & Camilo Prado-Román, 2021. "Artificial Neural Network, Quantile and Semi-Log Regression Modelling of Mass Appraisal in Housing," Mathematics, MDPI, vol. 9(7), pages 1-16, April.
    15. Jaume Garcia & Josep Maria Raya, 2011. "Price and Income Elasticities of Demand for Housing Characteristics in the City of Barcelona," Regional Studies, Taylor & Francis Journals, vol. 45(5), pages 597-608.

    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:taf:apeclt:v:12:y:2005:i:10:p:597-601. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/RAEL20 .

    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.