Estimating a payment vehicle for financing nourishment of residential beaches using a spatial-lag hedonic property price model

Coastal Management

Volumn 38, Issue 1, 2010, Pages 65-75

  Morgan, O Ashton ^a   Hamilton, Stuart E ^b  

^a APPALACHIAN STATE UNIVERSITY   (United States)

^b William and Mary   (United States)

Author keywords

Beach nourishment; Hedonic model; Spatial dependence; Value capture tax; Viewshed

Indexed keywords

BEACH NOURISHMENT; BEACH NOURISHMENT PROJECTS; EROSION PROTECTIONS; HEDONIC MODEL; LOCAL PROPERTY; LOCAL RESIDENTS; PRICE MODELS; PROPERTY OWNERS; SPATIAL DEPENDENCE;

SHORE PROTECTION;

BEACHES;

BEACH NOURISHMENT; COASTAL PROTECTION; COASTAL ZONE MANAGEMENT; ESTIMATION METHOD; HEDONIC ANALYSIS; MODELING; VIEWSHED;

EID: 77449084525     PISSN: 08920753     EISSN: 15210421     Source Type: Journal    
DOI: 10.1080/08920750903398287     Document Type: Article

References (20)

1. Anselin, L. 2002. Under the hood: Issues in the specification and interpretation of spatial regression models. Agricultural Economics 27:247-267.
2. Bensen, E. D., J. L. Hansen, A. L. Shwartz, Jr., and G. T. Smersh. 1997. The influence of Canadian investment on U.S. residential property values. Journal of Real Estate Research 13(3):231-249.
3. Bin, O., T. W. Crawford, J. B. Kruse, and C. E. Landry. 2008. Viewscapes and flood hazard: Coastal housing market response to amenities and risk. Land Economics 84(3): 434-448.
4. Black, D. E., L. P. Donnelley, and R. F. Settle. 1990. Equitable arrangements for financing beach nourishment projects. Ocean and Shoreline Management 14:191-214.
5. Bond, M. T., V. L. Seiler, and M. J. Seiler. 2002. Residential real estate prices: A room with a view. Journal of Real Estate Research 23:129-137.
6. Bourassa, S. C., M. Hoesli, and V. S. Peng. 2003. Do housing submarkets really matter. Journal of Housing Economics 12:12-28.
7. Doss, C. R., and S. J. Taff. 1996. The influence of wetland type and wetland proximity on residential property values. Journal of Agricultural and Resource Economics 21:120-129.
8. Florida Department of Environmental Protection (FDEP). 2008. To develop and implement a long term regional proactive beach management program for the state of Florida. Available at http://www.dep.state.fl.us/beaches/programs/bcherosn.html
9. Irwin, E. G., and N. E. Bockstael. 2002. Interacting agents, spatial externalities and the evolution of residential land use patterns. Journal of Economic Geography 2:31-54.
10. Kim, C., T. Phipps, and L. Anselin. 2003. Measuring the benefits of air quality improvement: A spatial hedonic approach. Journal of Environmental Economics and Management 45(1):42-39.
11. Landry, C. E., A. G. Keeler, and W. Kriesel. 2003. An economic evaluation of beach erosion management alternatives. Marine Resource Economics 18:105-127.
12. Major, C. 2003. The beach study: An empirical analysis of the distribution of coastal property values. Working paper, Pennsylvania State University. Available at http://forms.gradsch.psu.edu/diversity/mcnair/2003/major.pdf
13. Parsons, G. R., D. M. Massey, and T. Tomasi. 1999. Familiar and favorite sites in a random utility model of beach recreation. Marine Resource Economics 14:299-315.
14. Parsons, G. R., and M. Powell. 2001. Measuring the cost of beach retreat. Coastal Management 29:91-103.
15. Parsons, G. R., and J. Noailly. 2004. A value capture property tax for financing beach nourishment projects: An application to Delaware's ocean beaches. Ocean and Coastal Management 47:49-61.
16. Paterson, R., and K. Boyle. 2002. Out of sight, out of mind? Using GIS to incorporate visibility in hedonic property value models. Land Economics 78:417-425.
17. Pilkey, Jr., O. H., and K. L. Dixon. 1996. The corps and the shore. Washinton, D.C.: Island Press.
18. Pompe, J. J., and J. R. Rinehart. 1995. Beach quality and the enhancement of recreational property values. Journal of Leisure and Research 27(2):143-154.
19. Pompe, J. J., and J. R. Rinehart. 1999. Establishing fees for beach protection: Paying for a public good. Coastal Management 27:57-67.
20. Tse, R. Y. C. 2002. Estimating neighborhood effects in house prices: Towards a new hedonic model approach. Urban Studies 39:1165-1180.