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Valuing Beach Quality with Hedonic Property Models

Valuing Beach Quality with Hedonic Property Models Abstract: This paper explores the influence of beach quality on coastal property values. We hypothesize that beach and dune width provide local public goods in the form of recreation potential and storm/erosion protection, but services are limited by distance from the shoreline. Our findings support this hypothesis, as extending the influence of beach quality beyond 300 m from the shore generally results in statistically insignificant parameter estimates. For houses within this proximity bound, beach and dune widths increase property value. We argue that interpretation of marginal willingness to pay for beach quality depends upon individual understanding of coastal processes and expectations of management intervention. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Land Economics University of Wisconsin Press

Valuing Beach Quality with Hedonic Property Models

Land Economics , Volume 87 (1) – Apr 4, 2011

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Publisher
University of Wisconsin Press
Copyright
Copyright © University of Wisconsin Press
ISSN
1543-8325
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Abstract

Abstract: This paper explores the influence of beach quality on coastal property values. We hypothesize that beach and dune width provide local public goods in the form of recreation potential and storm/erosion protection, but services are limited by distance from the shoreline. Our findings support this hypothesis, as extending the influence of beach quality beyond 300 m from the shore generally results in statistically insignificant parameter estimates. For houses within this proximity bound, beach and dune widths increase property value. We argue that interpretation of marginal willingness to pay for beach quality depends upon individual understanding of coastal processes and expectations of management intervention.

Journal

Land EconomicsUniversity of Wisconsin Press

Published: Apr 4, 2011

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