Growth and Change · 1997 · 125 citations · 30 references
Natural ResourcesAgricultural EconomicsEconomicsHousingLand EconomicsReal Estate EconomicsAgricultural Land EconomicsAmenity ValuationContingent ValuationHedonic PricingMarket-based ValuationProperty ValuationAgricultural Amenity ValuationAmenity ExternalitiesAmenity PricingAmenity Value AssessmentDichotomous Choice ElicitationHedonic ValuationLand Use ValuationValue Function Estimation
ABSTRACT The amenity value to Kentucky residents from horse farm land was estimated using both the contingent valuation method and the hedonic pricing method. The hedonic pricing model included both the housing and labor markets. A value function estimated from dichotomous choice contingent valuation responses showed that the value of a change in the level of the horse farm amenity was sensitive to the size of the change, with no evidence of value that is independent of the size of the change. The two methods generated estimates of the external benefits from horse farm land that were within 20 percent of each other.
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Wages, Rents, and the Quality of Life
Jennifer Roback · Journal of Political Economy · 1982 · 3.2K citations