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The Value of Forever Wild: An Economic Analysis of Land Use in the Adirondacks

Published online by Cambridge University Press:  15 September 2016

Carrie M. Tuttle  and
Martin D. Heintzelman
Carrie M. Tuttle
Affiliation:
Institute for a Sustainable Environment
Martin D. Heintzelman*
Affiliation:
School of Business and Fredric C. Menz Scholar of Environmental Economics at Clarkson University in Potsdam, New York
*
Corresponding Author: Martin Heintzelman ▪ School of Business ▪ Clarkson University ▪ Potsdam, New York 13699 ▪ Phone 315.268.6427 ▪ Email [email protected].
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Abstract

The mix of public and private land ownership within the Adirondack Park often leads to conflict between development and conservation interests. We explore the effects of the Adirondack Park Agency's classifications on property values through hedonic analysis while simultaneously controlling for environmental and recreational amenities. Results show that lands in the park classified for moderate-intensity use sell at a premium of up to 7 percent while lands in more restrictive classes are discounted. There is also evidence that decreasing the impact of humans by one unit increases property values by approximately 2 percent.

Keywords

Adirondackshedonic pricing modelland use
Type
Selected Papers
Information
Agricultural and Resource Economics Review , Volume 42 , Issue 1 , April 2013 , pp. 119 - 138
Copyright
Copyright © 2013 Northeastern Agricultural and Resource Economics Association 

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