TY - JOUR
T1 - Treating open space as an urban amenity
AU - Smith, V. Kerry
AU - Poulos, Christine
AU - Kim, Hyun
N1 - Funding Information:
V.K. Smith’s research was partially supported by the North Carolina Agricultural Research Service Project #NC06572 and the US Environmental Protection Agency. Thanks are due to two anonymous referees for very helpful comments on an earlier draft of this paper and especially to Glenn Blomquist for his careful review and editorial suggestions. We are also grateful to Michelle Holbrook and Charles Fulcher in assembling some of the data used in this analysis, as well as to Ray Palmquist and Randy Walsh for sharing their data on housing and open space in Wake County. Thanks are also due Jack Crawley and Susan Hinton for their assistance in preparing several drafts of this paper.
PY - 2002/2
Y1 - 2002/2
N2 - In "the welfare economics of city bigness", George Tolley asserts that the virtual price of amenities can be used to judge the efficiency of a urban spatial land use patterns. Expanding this test to open space amenities is not straightforward because those amenities are especially difficult to characterize. Bockstael and Irwin [Economics and the land use-environment link. In: Tietenberg, T., Folmer, H. (Eds.), International Yearbook of Environmental and Resource Economics, 2000/2001. Edward Edgar, Cheltenhan, UK, 2000] suggest that open space amenities and their virtual prices depend on whether surrounding land uses are fixed or adjustable. This paper estimates hedonic price functions over nearly 30 years to evaluate, whether the distinctions between fixed and adjustable land uses help in measuring the value of open space amenities.
AB - In "the welfare economics of city bigness", George Tolley asserts that the virtual price of amenities can be used to judge the efficiency of a urban spatial land use patterns. Expanding this test to open space amenities is not straightforward because those amenities are especially difficult to characterize. Bockstael and Irwin [Economics and the land use-environment link. In: Tietenberg, T., Folmer, H. (Eds.), International Yearbook of Environmental and Resource Economics, 2000/2001. Edward Edgar, Cheltenhan, UK, 2000] suggest that open space amenities and their virtual prices depend on whether surrounding land uses are fixed or adjustable. This paper estimates hedonic price functions over nearly 30 years to evaluate, whether the distinctions between fixed and adjustable land uses help in measuring the value of open space amenities.
KW - Hedonic price analysis
KW - Land use
KW - Open space amenities
KW - Valuation
UR - https://www.scopus.com/pages/publications/0036474668
UR - https://www.scopus.com/pages/publications/0036474668#tab=citedBy
U2 - 10.1016/S0928-7655(01)00055-0
DO - 10.1016/S0928-7655(01)00055-0
M3 - Article
AN - SCOPUS:0036474668
SN - 0928-7655
VL - 24
SP - 107
EP - 129
JO - Resource and Energy Economics
JF - Resource and Energy Economics
IS - 1-2
ER -