Using a Bundled Amenity Model to Estimate the Value of Cropland Open Space and Determine an Optimal Buffer Zone

Nicolai Kuminoff

Journal of Agricultural and Resource Economics, 2009, vol. 34, issue 01, 23

Abstract: This study investigates how proximity to cropland influences residential property values and considers the public policy implications. The hedonic model generalizes previous studies by recognizing that the bundle of externalities generated by crop production may increase the price of some homes and decrease the price of others, depending on their respective locations. Using an instrumental variables approach to estimate the model for San Joaquin County, California, suggests that proximity to cropland increases the value of most, but not all, single-family homes near the agricultural-urban edge. The results imply an agricultural buffer zone of 68 meters would mitigate most cropland disamenities.

Keywords: Land Economics/Use; Resource/Energy Economics and Policy (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:ags:jlaare:50086

DOI: 10.22004/ag.econ.50086

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