Estimating Amenity Benefits of Coastal Farmland

Abstract

This paper investigates differences in non‐market farmland amenity values estimated using distinct methodologies, with a focus on the potential causes and policy implications. The paper compares farmland amenity values generated by a hedonic property value model and a contingent choice model, both estimated from data collected in the Peconic Estuary System of Suffolk County, NY. The analysis demonstrates that a combination of non‐market valuation methodologies can provide policy insights not otherwise available to those relying on any single approach, and illustrates types of information that may be obscured by methodologies used in isolation.