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Data Practices for Studying the Impacts of Environmental Amenities and Hazards with Nationwide Property Data

Author

Listed:
  • Christoph Nolte
  • Kevin J. Boyle
  • Anita M. Chaudhry
  • Christopher Clapp
  • Dennis Guignet
  • Hannah Hennighausen
  • Ido Kushner
  • Yanjun Liao
  • Saleh Mamun
  • Adam Pollack
  • Jesse Richardson
  • Shelby Sundquist
  • Kristen Swedberg
  • Johannes H. Uhl

Abstract

We discuss data quality and modeling issues inherent in the use of nationwide property data to value environmental amenities. By example of Zillow’s Transaction and Assessment Database, a real estate database covering the United States, we identify challenges and propose guidance for (1) identifying arm’s-length sales; (2) geolocating parcels and buildings; (3) identifying temporal links between transaction, assessor, and parcel data; (4) identifying property types, such as single-family homes and vacant lands; and (5) dealing with missing or mismeasured data for standard housing attributes. We review current practice and show that how researchers address these issues can meaningfully influence research findings.

Suggested Citation

  • Christoph Nolte & Kevin J. Boyle & Anita M. Chaudhry & Christopher Clapp & Dennis Guignet & Hannah Hennighausen & Ido Kushner & Yanjun Liao & Saleh Mamun & Adam Pollack & Jesse Richardson & Shelby Sun, 2024. "Data Practices for Studying the Impacts of Environmental Amenities and Hazards with Nationwide Property Data," Land Economics, University of Wisconsin Press, vol. 100(1), pages 200-221.
    • Handle: RePEc:uwp:landec:v:100:y:2024:i:1:p:200-221
    Note: DOI: https://doi.org/10.3368/le.100.1.102122-0090R
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    References listed on IDEAS

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    1. Zhang, Jiarui & Phaneuf, Daniel J. & Schaeffer, Blake A., 2022. "Property values and cyanobacterial algal blooms: Evidence from satellite monitoring of Inland Lakes," Ecological Economics, Elsevier, vol. 199(C).
    2. Nick Hanley & Mikołaj Czajkowski, 2019. "The Role of Stated Preference Valuation Methods in Understanding Choices and Informing Policy," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 13(2), pages 248-266.
    3. Kelly C. Bishop & Nicolai V. Kuminoff & H. Spencer Banzhaf & Kevin J. Boyle & Kathrine von Gravenitz & Jaren C. Pope & V. Kerry Smith & Christopher D. Timmins, 2020. "Best Practices for Using Hedonic Property Value Models to Measure Willingness to Pay for Environmental Quality," Review of Environmental Economics and Policy, University of Chicago Press, vol. 14(2), pages 260-281.
    4. Wentland, Scott A. & Ancona, Zachary H. & Bagstad, Kenneth J. & Boyd, James & Hass, Julie L. & Gindelsky, Marina & Moulton, Jeremy G., 2020. "Accounting for land in the United States: Integrating physical land cover, land use, and monetary valuation," Ecosystem Services, Elsevier, vol. 46(C).
    5. Justin Murfin & Matthew Spiegel & Jose Scheinkman, 2020. "Is the Risk of Sea Level Rise Capitalized in Residential Real Estate?," The Review of Financial Studies, Society for Financial Studies, vol. 33(3), pages 1217-1255.
    6. Bigelow, Daniel & Borchers, Allison & Hubbs, Todd, 2016. "U.S. Farmland Ownership, Tenure, and Transfer," Economic Information Bulletin 262138, United States Department of Agriculture, Economic Research Service.
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    Cited by:

    1. Burchfield, Emily & Ferro, Marco & Hüttel, Silke & Lakes, Tobia & Leonhardt, Heidi & Niedermayr, Andreas & Rissing, Andrea & Seifert, Stefan & Wesemeyer, Maximilian, 2024. "Towards a comprehensive analysis of agricultural land systems in the EU and US: A critical view on publicly available datasets," Land Use Policy, Elsevier, vol. 147(C).
    2. Cheng, Nieyan & Li, Minghao & Liu, Pengfei & Luo, Qianfeng & Tang, Chuan & Zhang, Wendong, 2024. "Pipeline incidents and property values," Journal of Environmental Economics and Management, Elsevier, vol. 127(C).

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    More about this item

    JEL classification:

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

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