Hostname: page-component-586b7cd67f-vdxz6 Total loading time: 0 Render date: 2024-11-22T14:18:36.281Z Has data issue: false hasContentIssue false
  • English
  • Français

Disentangling Access and View Amenities in Access-Restricted Coastal Residential Communities

Published online by Cambridge University Press:  26 January 2015

O. Ashton Morgan  and
Stuart E. Hamilton
O. Ashton Morgan
Affiliation:
Department of Economics, Appalachian State University, Boone, NC
Stuart E. Hamilton
Affiliation:
The College of William and Mary, Williamsburg, VA
Get access Rights & Permissions [Opens in a new window]

Abstract

In coastal communities with uniform flood risk, amenity value is comprised of two components – view and access. Having controlled for view, it is assumed that any residual amenity value represents the benefit derived from accessing the beach for leisure/recreational purposes. However, as properties closer to the beach typically have improved viewsheds, the two amenities are highly correlated, and disentangling view and access is problematical. A spatial autoregressive hedonic model captures ease of beach access via a network distance parameter that varies independently from property viewshed, collinearity effects are mitigated, and access and view can be disentangled.

Keywords

beach accessproperty viewshedspatial hedonic modelwillingness to payQ51R12R21R23
Type
Research Article
Information
Journal of Agricultural and Applied Economics , Volume 43 , Issue 2 , May 2011 , pp. 157 - 166
Copyright
Copyright © Southern Agricultural Economics Association 2011

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Anselin, L., and Bera, A. “Spatial Dependence in Linear Regression Models with an Introduction to Spatial Econometrics.” Handbook of Applied Economic Statistics. Ullah, , Aman, , and Giles, David, eds. Boca Raton, FL: CRC Press, 1998.Google Scholar
Baltsavias, E.P. “Airborne Laser Scanning: Basic Relations and Formulas.” ISPRS Journal of Photogrammetry and Remote Sensing 54(1999): 199–214.10.1016/S0924-2716(99)00015-5Google Scholar
Bin, O., Crawford, T.W., Kruse, J.B., and Landry, C.E. “Viewscapes and Flood Hazard: Coastal Housing Market Response to Amenities And Risk.” Land Economics 84(2008):434–48.Google Scholar
Bin, O., and Polasky, S. “Effects of Flood Hazards on Property Values: Evidence Before and After Hurricane Floyd.” Land Economics 80(2004): 490–500.10.2307/3655805Google Scholar
Bourassa, S.C., Hoesli, M., and Peng, V.S. “Do Housing Submarkets Really Matter?” Journal of Housing Economics 12(2003): 12–28.10.1016/S1051-1377(03)00003-2Google Scholar
Boyle, M.A., and Kiel, K.A. “A Survey of House Price Hedonic Studies of the Impact of Environmental Externalities.” Journal of Real Estate Literature 9(2001): 117–44.Google Scholar
Freeman, A.M. The Measurement of Environmental and Resource Values: Theories and Methods. Washington, D.C.: Resources for the Future, 1993.Google Scholar
Irwin, E.G., and Bockstael, N.E. “Interacting Agents, Spatial Externalities and the Evolution of Residential Land Use Patterns.” Journal of Economic Geography 2(2002):31–54.10.1093/jeg/2.1.31Google Scholar
Kim, C., Phipps, T., and Anselin, L. “Measuring the Benefits of Air Quality Improvement: A Spatial Hedonic Approach.” Journal of Environmental Economics and Management 45(2003):24–39.10.1016/S0095-0696(02)00013-XGoogle Scholar
Lansford, N.H., and Jones, L.L. “Marginal Price of Lake Recreation and Aesthetics: An Hedonic Approach.” Journal of Agricultural and Applied Economics 27(1995):212–23.S107407080001974XGoogle Scholar
Parsons, G.R., and Noailly, J. “A Value Capture Property Tax for Financing Beach Nourishment Projects: An Application to Delaware's Ocean Beaches.” Ocean and Coastal Management 47(2004):49–61.10.1016/j.ocecoaman.2004.03.003Google Scholar
Parsons, G.R., and Powell, M. “Measuring the Cost of Beach Retreat.” Coastal Management 29(2001):91–103.10.1080/089207501750069597Google Scholar
Paterson, R., and Boyle, K. “Out of Sight, Out of Mind? Using GIS to Incorporate Visibility in Hedonic Property Value Models.” Land Economics 78(2002):417–25.10.2307/3146899Google Scholar
Pompe, J.J. “The Effect of a Gated Community on Property and Beach Amenity Valuation.” Land Economics 84(2008):423–33.Google Scholar
Pompe, J.J., and Reinhart, J.R. “Beach Quality and the Enhancement of Recreational Property Values.” Journal of Leisure Research 27(1995): 143–54.Google Scholar
Rosen, S. “Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition.” The Journal of Political Economy 82(1974):34–55.10.1086/260169Google Scholar
Tyrväinen, L. “The Amenity Value of the Urban Forest: An Application of the Hedonic Pricing Method.” Landscape and Urban Planning 37(1997):211–22.10.1016/S0169-2046(97)80005-9Google Scholar