Benefits From Urban Open Space and Recreational Parks: A Case Study

John K. Hagerty, T.H. Stevens, P Allen and T. More

Journal of the Northeastern Agricultural Economics Council, 1982, vol. 11, issue 01, 8

Abstract: The hedonic pricing technique was used to measure that component of house price attributable to proximity to a city park, using data on sale prices and characteristics of houses in Worcester, MA. Aggregation of these residual values over all houses in the neighborhood of a park provided an estimate of the value of the park, to which was added an estimate of recreation benefits from extrazonal users. '!he policy question of park system development or contraction was addressed by comparing these benefits with operating costs to gain a net measure of parkland value.

Keywords: Community/Rural/Urban; Development (search for similar items in EconPapers)
Date: 1982
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Persistent link: https://EconPapers.repec.org/RePEc:ags:nareaj:159780

DOI: 10.22004/ag.econ.159780

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