Valuing urban wetland quality with hedonic price model

Ecological Indicators

Volumn 84, Issue , 2018, Pages 535-545

  Mei, Yingdan ^a   Sohngen, Brent ^b   Babb, Thomas ^c  

^a CHINA UNIVERSITY OF PETROLEUM   (China)

^b OHIO STATE UNIVERSITY   (United States)

^c OHIO ENVIRONMENTAL PROTECTION AGENCY   (United States)

Author keywords

Hedonic price model; Semi parametric method; Valuation; Wetland quality

Indexed keywords

COSTS; ECOSYSTEMS; LAND USE; SPECIFICATIONS;

HEDONIC PRICE MODEL; HYDROLOGICAL ACTIVITY; PARAMETRIC METHOD; PROTECTION/RESTORATION; SEMI-PARAMETRIC METHOD; SEMIPARAMETRIC; URBAN WETLANDS; VALUATION; WETLAND QUALITY; WETLANDS PROTECTION;

WETLANDS;

CONTINGENT VALUATION; DISTURBANCE; ECOSYSTEM MODELING; ECOSYSTEM SERVICE; ENVIRONMENTAL ECONOMICS; ENVIRONMENTAL PROTECTION; ENVIRONMENTAL QUALITY; ENVIRONMENTAL RESTORATION; HABITAT RESTORATION; HEDONIC ANALYSIS; PARAMETER ESTIMATION; URBAN AREA; WETLAND;

FRANKLIN COUNTY [OHIO]; OHIO; UNITED STATES;

EID: 85029603253     PISSN: 1470160X     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.ecolind.2017.09.022     Document Type: Article

References (30)

1. Amacher, G.S., Brazee, R.J., Bulkley, J.W., Moll, R.A., Application of Wetland Valuation Techniques: Examples from Great Lakes Coastal Wetlands. 1989, University of Michigan, School of Natural Resources, Ann Arbor, MI.
2. Babb, T., Assessing the Relationship of Wetland Quality and Home Sale Prices; A Hedonic Study. MS Thesis. 2012, Ohio State University.
3. Bin, O., Polasky, S., Valuing Inland and Coastal Wetlands in A Rural Setting Using Parametric and Semi-parametric Hedonic Models Working Paper. 2003, Department of Economics, East Carolina University.
4. Bin, O., A semiparametric hedonic model for valuing wetlands. Appl. Econ. Lett. 12 (2005), 597–601.
5. Birol, E., Karousakis, K., Koundouri, P., Using economic valuation techniques to inform water resources management: a survey and critical appraisal of available techniques and an application. Sci. Total Environ. 365 (2006), 105–122.
6. Boyer, T., Polasky, S., Valuing urban wetlands: a review of non-market valuation studies. Wetlands 24 (2004), 744–755.
7. Brander, L.M., Florax, R.J.G.M., Vermaat, J.E., The empirics of wetland valuation: a comprehensive summary and a meta-analysis of the literature. Environ. Resour. Econ. 33:2 (2006), 223–250.
8. Brouwer, R., Langford, I., Bateman, I., Turner, R.K., A meta-analysis of wetland ecosystem valuation studies. Turner, R.K., Jeroen, C., van den Bergh, J.M., Brouwer, R., (eds.) Managing Wetlands: An Ecological Economics Approach, 2003, Edward Elgar, Cheltenham, UK, 2003 (Chapter 5).
9. Carlsson, F., Frykblom, P., Liljenstolpe, C., Valuing wetland attributes: an application of choice experiments. Ecol. Econ. 47 (2003), 95–103.
10. Carrion-Flores, C., Irwin, E.G., Identifying spatial interactions in the presence of spatial error autocorrelation: an application to land use spillovers. Resour. Energy Econ. 32 (2010), 135–153.
11. Convertino, M., Valverde, LJ. Jr., Portfolio decision analysis framework for value-focused ecosystem management. PLoS One, 8(6), 2013, e65056, 10.1371/journal.pone.0065056.
12. Cooper, J., Loomis, J., Testing whether waterfowl hunting benefits increase with greater water deliveries to wetlands. Environ. Resour. Econ. 3 (1993), 545–561.
13. Doss, C., Taff, S., The influence of wetland type and wetland proximity on residential property values. J. Agric. Resour. Econ. 21:1 (1996), 120–129.
14. Earnhart, D., Combining revealed and stated preference methods to value environmental amenities at residential locations. Land Econ. 77:1 (2001), 12–29.
15. Fan, H., Yang, H., The impact of urban wetland on the price of house: evidence from Hangzhou Xixi wetland, International Conference on Communication Systems, 2010, 350–353.
16. Gutrich, J.J., Hitzhusen, F.H., Assessing the substitutability of mitigation wetlands for natural sites: estimating restoration lag costs of wetland mitigation. Ecol. Econ. 48 (2004), 409–424.
17. Halvorsen, R., Pollakowski, H., Choice of functional form for hedonic price equations. J. Urban Econ. 10 (1981), 37–49.
18. Hastie, T.J., Tibshirani, R.J., Generalized additive models. Stat. Sci. 3 (1986), 297–318.
19. Klaiber, H.A., Abbott, J.K., An embarrassment of riches: confronting omitted variable bias and multiscale capitalization in hedonic price models. Rev. Econ. Stat. 93:4 (2011), 1331–1342.
20. Kuminoff, N.V., Parmeter, C.F., Pope, J.C., Which hedonic models can we trust to recover the marginal willingness to pay for environmental amenities?. J. Environ. Econ. Manage. 60 (2010), 145–160.
21. Linkov, I., Moberg, E., Multi Criteria Decision Analysis: Environmental Applications and Case Studies. 2012, CRC Press.
22. Lupi, F. Jr., Graham-Thomasi, T., Taff, S., A Hedonic Approach to Urban Wetland Valuation Staff Paper. 1991, University of Minnesota.
23. Mack, J.J., Ohio Rapid Assessment Method for Wetlands, Manual for Using Version 5.0. Ohio EPA Technical Bulletin Wetland/ 1-1-1. 2001. 2001, Ohio Environmental Protection Agency, Division of Surface Water, 401 Wetland Ecology Unit, Columbus, Ohio.
24. Mahan, B., Polasky, S., Adams, R., Valuing urban wetlands: a property price approach. Land Econ. 76:1 (2000), 100–113.
25. Rosen, S., Hedonic prices and implicit markets: product differentiation in pure competition. J. Polit. Econ. 82 (1974), 34–55.
26. Sam, G.A., Zheng, Y., Semiparametric estimation of consumer demand systems with micro data. Am. J. Agric. Econ. 92:1 (2010), 246–257.
27. Schuijt, K., Land and Water Use of Wetlands in Africa: Economic Values of African Wetlands., 2004, International Institute for Applied Systems Analysis, Laxenburg, Austria (Report No. IR-02-063).
28. Tyrvainen, L., Miettinen, A., Property prices and urban forest amenities. J. Environ. Econ. Manage. 39 (2000), 205–223.
29. United States Census Bureau, Franklin County. 2012, United States Census Bureau, Ohio http://quickfacts.census.gov/qfd/states/39 /39049.html.
30. Woodward, R., Wui, Y., The economic value of wetland services: a meta-analysis. Ecol. Econ. 37:2 (2001), 257–270.