You are here: Home
/ Publication Information
Title: Estimating the economic value of cultural ecosystem services in an urbanizing area using hedonic pricing
Author: Sander, Heather A.; Haight, Robert G.
Source: Journal of Environmental Management. 113: 194-205.
Description: A need exists to increase both knowledge and recognition of the values associated with ecosystem services and amenities. This article explores the use of hedonic pricing as a tool for eliciting these values. We take a case study approach, valuing several services provided by ecosystems, namely aesthetic quality (views), access to outdoor recreation, and the benefits provided by tree cover in Dakota County, Minnesota, USA. Our results indicate that these services are valued by local residents and that hedonic pricing can be used to elicit at least a portion of this value. We find that many aspects of the aesthetic environment significantly impact home sale prices. Total view area as well as the areas of some landcover types (water and lawn) in views positively influenced home sale prices while views of impervious surfaces generally negatively influenced home sale price. Access to outdoor recreation areas significantly and positively influenced home sale prices as did tree cover in the neighborhood surrounding a home. These results illustrate the ability of hedonic pricing to identify partial values for ecosystem services and amenities in a manner that is highly relevant to local and regional planning. These values could be used to increase policy-maker and public awareness of ecosystem services and could improve their consideration in planning and policy decisions.
Keywords: ecosystem services, economic valuation, hedonic pricing, spatial econometrics
View or Print this Publication (272 KB)
- We recommend that you also print this page and attach it to the printout of the article, to retain the full citation information.
- This article was written and prepared by U.S. Government employees on official time, and is therefore in the public domain.
- This publication may be available in hard copy. Check the Northern Research Station web site to request a printed copy of this publication.
- Our on-line publications are scanned and captured using Adobe Acrobat. During the capture process some typographical errors may occur. Please contact Sharon Hobrla, firstname.lastname@example.org if you notice any errors which make this publication unusable.
Sander, Heather A.; Haight, Robert G. 2012. Estimating the economic value of cultural ecosystem services in an urbanizing area using hedonic pricing. Journal of Environmental Management. 113: 194-205.
Get the latest version of the Adobe Acrobat reader or Acrobat Reader for Windows with Search and Accessibility