Effects of Aquatic Invasive Species on Home Prices

Johnson, Marianne; Meder, Martin E.

doi:10.2139/ssrn.2316911

Cited by 8 publications

(5 citation statements)

References 17 publications

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“…The authors noted the more than 500 infested lakes in the state of Wisconsin, and that the total amount of funding dedicated to aquatic invasive species management across the state was at the time of writing approximately $4 million. Also in Wisconsin, Johnson and Meder (2013) found that when entered alone, the presence of milfoil had no significant price impact, whereas when entered simultaneously with a variable accounting for the presence of Zebra mussels, the effect of milfoil became significant (-5%). Olden and Tamayo (2014) demonstrated a more substantial negative impact in King County, Washington, where the presence of milfoil reduced sales prices by $94,385, or 19%, an aggregate average cost of $377,542 per year per additional lake invaded.…”

Section: Terrestrial Invasivesmentioning

confidence: 97%

Impacts of environmental disturbances on housing prices: A review of the hedonic pricing literature

Nicholls

2019

Journal of Environmental Management

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The global environment is susceptible to many types of change, including alterations to the world's climate. Climate change has been linked to a host of modifications to the natural environment, including the increasing frequency and severity of disturbances such as pest outbreaks, invasions by non-native species, and wildfire. These in turn pose substantial risks to human wellbeing and health. Estimates of the direct and indirect costs of these events are important prerequisites to well-rounded cost-benefit analyses of preventative or control measures, themselves essential components of appropriate education, policy and management responses. This review brings together the evidence with respect to the impacts of disturbances such as pests, invasive species and wildfire on residential property values as measured using the hedonic pricing method. It demonstrates that whilst most disturbances have the expected negative or an insignificant house price impact, in some cases disturbances can lead to housing price rise. The possible causes and implications of these unanticipated positive price responses are discussed. Broader consequences of all directions of price impact are also considered, in particular for the development and implementation of polices designed to prevent the occurrence or spread of disturbances, or at a minimum mitigate their negative effects.

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Section: Terrestrial Invasivesmentioning

confidence: 97%

Impacts of environmental disturbances on housing prices: A review of the hedonic pricing literature

Nicholls

2019

Journal of Environmental Management

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“…They benefit from ecosystem changes and habitat disturbances caused by global climatic change and anthropogenic impacts [4]. AIPs degrade the natural local ecosystem by outcompeting native species [5], negatively affecting the waterfront property values [6,7], and hampering commercial and recreational fishing (and associated losses in taxes and economic revenue) [8]. It was estimated that the annual cost of invasive species invasion in the United States increased from USD 2 billion in 1960-1969 to USD 21 billion in 2010-2020 [9].…”

Section: Introductionmentioning

confidence: 99%

Detection of Aquatic Invasive Plants in Wetlands of the Upper Mississippi River from UAV Imagery Using Transfer Learning

Chaudhuri

Mishra

2023

Remote Sensing

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Aquatic invasive plants (AIPs) are a global threat to local biodiversity due to their rapid adaptation to the new environments. Lythrum salicaria, commonly known as purple loosestrife, is a predominant AIP in the upper Midwestern region of the United States and has been designated as a deadly threat to the wetlands of this region. Accurate estimation of its current extent is a top priority, but regular monitoring is limited due to cost-, labor-, and time-intensive field surveys. Therefore, the goal of the present study is to accurately detect purple loosestrife from very high-resolution UAV imagery using deep neural network-based models. As a case study, this study implemented U-Net and LinkNet models with ResNet-152 encoder in the wetlands of the upper Mississippi River situated in La Crosse County, Wisconsin. The results showed that both models produced 88–94% training accuracy and performed better in landscapes that were occupied by smaller, disaggregated, and more equitably distributed purple loosestrife. Furthermore, the study adopted a transfer learning approach to implement a trained purple loosestrife model of the first study site and implemented it for the second study site. The results showed that the pre-trained model implementation generated better accuracy in less than half the time of the original model. Therefore, the transfer learning approach, if adapted efficiently, can be highly beneficial for continuous monitoring of purple loosestrife and strategic planning for application of direct biocontrol measures.

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“…For instance, zebra mussels cost businesses and communities over $5 billion in the first 10 years after invasion alone (Boelman et al, 1997) and emerald ash borers have been estimated to cost $10 billion over a decade in lost forest resources (Kovacs et al, 2010). Collectively, invaders threaten United States agriculture (Paini et al, 2016), damage critical infrastructure (e.g., water treatment facilities, electrical power; Boelman et al, 1997, Connelly et al, 2007, and substantially lower the value of property and other personal assets (Johnson and Meder, 2013). For example, rush skeletonweed (Chondrilla juncea) caused an estimated $62 million annual loss to wheat, potato, legume, and hay crops in Washington state alone (Mefford et al, 2017).…”

Section: Introductionmentioning

confidence: 99%