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.