La productivité naturelle et la réglementation comme déterminants de la valeur du foncier ostréicole : Un modèle de prix hédoniques spatial appliqué au Bassin d'Arcachon

To demonstrate the importance of regulation and the natural productivity in the economic valuation of oyster production areas, we estimated a hedonic price function of oyster leases in Arcachon Bay. The "oyster land" have the particularity to be concessions of Maritime Public Domain and are therefore subject to its protective system. Nevertheless, far from hindering the oyster farming by the constraints it imposes, the regulation appears to be a guarantor of maintaining a level of natural productivity concessions allowing a satisfactory reproduction and growth of oysters in favorable conditions. Thus, the modeling results show that more than half the price of trade concessions is determined by the regulatory requirements governing their use. They also show that environmental conditions are not identical across the Bay of Arcachon, while justifying the regulation has to be adaptive to the natural productivity differences.