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Estimating the amenity value of rainfall

Jeffrey Englin ()

The Annals of Regional Science, 1996, vol. 30, issue 3, 273-283

Abstract: The amenity value of two measures of rainfall are investigated in this study: long term average annual rainfall and the variation in rainfall within the year. Estimates of the economic value of rainfall and variation in rainfall are found using the hedonic property value technique. The results indicate that rainfall is an attribute for which the distribution as well as the average annual level is important. Home buyers prefer less annual rainfall, but, holding annual rainfall constant, buyers will also pay more for greater seasonal variation in rainfall.

Date: 1996
Note: Received: October 1993 / Accepted in revised form: July 1994
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The Annals of Regional Science is currently edited by Martin Andersson, E. Kim and Janet E. Kohlhase

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Handle: RePEc:spr:anresc:v:30:y:1996:i:3:p:273-283