Valuing Urban Wetlands: A Property Pricing Approach,

Mahan, Brent L.

doi:10.21236/ada326734

Cited by 77 publications

(5 citation statements)

References 56 publications

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“…Other positive proximity to water effects were found by Mahan, Polasky and Adams () for wetlands in Portland, Oregon. Using a logarithmic transformation of the distance variable, they found relatively smaller effects of proximity to water: distance–price elasticities of 7% for lakes, 1.1% for streams and 1.8% for wetlands, based on an initial distance of one mile.…”

Section: Effects Measured In the Previous Literature And The Methodssupporting

confidence: 53%

Estimating the Value of Proximity to Water, When Ceteris Really Is Paribus

Rouwendal

Levkovich

Marwijk³

2016

Real Estate Economics

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Proximity to water is appreciated by households. Hedonic analyses that try to measure the value of this amenity are potentially biased by omitted variables because locations close to water may be selected by households with higher incomes who construct more luxury houses. Because it is difficult to observe all the relevant characteristics, the coefficient for proximity to water may be biased upwards. We circumvent this problem by exploiting a specific characteristic of the Dutch system of planned residential development: often a number of exactly similar houses are constructed close to each other. By comparing the values of such identical houses, we can measure the effect of proximity to water under almost ideal circumstances. Introduction of these fixed effects lowers the estimated impact of this amenity, thereby confirming the conjectured presence of an omitted variable bias.

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Section: Effects Measured In the Previous Literature And The Methodssupporting

confidence: 53%

Estimating the Value of Proximity to Water, When Ceteris Really Is Paribus

Rouwendal

Levkovich

Marwijk³

2016

Real Estate Economics

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“…Some studies evaluated the characteristics of open space in general, including the diversity of open space (Geoghegan et al 1997), different landscape features (Bockstael and Bell 1998), the permanency of open space (Geoghegan 2002), the view of open space (Jim and Chen 2006), and the distance to open space (Kaufman and Cloutier 2006 (Bin and Polasky 2003;Mahan et al 2000), urban forests (Tyrväinen 1997;Tyrväinen and Miettinen 2000), urban parks (Morancho 2003), community gardens (Voicu and Been 2008), and urban greenway trails (Crompton 2001;Lindsey et al 2004;Nicholls 2002Nicholls , 2004 have attracted attention in hedonic studies. Some open space evaluations can be incorporated into a more complex and ecologically oriented hedonic study.…”

Section: Studies Of Open Space Characteristicsmentioning

confidence: 99%

A Spatial Autocorrelation Approach for Examining the Effects of Urban Greenspace on Residential Property Values

Conway

Wolch

et al. 2008

J Real Estate Finan Econ

236

135

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“…Other positive proximity to water effects were found by Mahan et al (2000) for wetlands in Portland, Oregon. Using a natural logarithm transformation of the distance variable, they found relatively smaller effects of proximity to water -distance-price elasticities of 7% for lakes, 1.1% for streams and 1.8% for wetlands, based on initial distance of one mile.…”

Section: Effects Measured In Previous Literature and The Methods Thamentioning

confidence: 89%

The Value of Proximity to Water in Residential Areas

Rouwendal

Marwijk²,

Levkovich

2014

SSRN Journal

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in AbstractProximity to water is appreciated by households. Hedonic analyses that try to measure the value of this amenity are potentially biased by omitted variables as locations close to the water may be selected by households with higher incomes who construct more luxury houses. Since it is difficult to observe all relevant characteristics, the coefficient for proximity to water may be biased upwards. We circumvent this problem by exploiting a specific characteristic of the Dutch system of planned residential development: often a number of identical houses are constructed close to each other. By comparing the values of such identical houses, we can measure the effect of proximity to water under almost ideal circumstances. The results show a significant impact of this amenity, but of a smaller magnitude than was suggested by many earlier studies, thereby confirming the conjectured presence of omitted variable bias.

show abstract

Valuing Urban Wetlands: A Property Pricing Approach,

Cited by 77 publications

References 56 publications

Estimating the Value of Proximity to Water, When Ceteris Really Is Paribus

Estimating the Value of Proximity to Water, When Ceteris Really Is Paribus

A Spatial Autocorrelation Approach for Examining the Effects of Urban Greenspace on Residential Property Values

The Value of Proximity to Water in Residential Areas

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