Disentangling Access and View Amenities in Access-Restricted Coastal Residential Communities

O. Ashton Morgan and Stuart E. Hamilton

Journal of Agricultural and Applied Economics, 2011, vol. 43, issue 2, 157-166

Abstract: In coastal communities with uniform flood risk, amenity value is comprised of two components – view and access. Having controlled for view, it is assumed that any residual amenity value represents the benefit derived from accessing the beach for leisure/recreational purposes. However, as properties closer to the beach typically have improved viewsheds, the two amenities are highly correlated, and disentangling view and access is problematical. A spatial autoregressive hedonic model captures ease of beach access via a network distance parameter that varies independently from property viewshed, collinearity effects are mitigated, and access and view can be disentangled.

Date: 2011
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