A semiparametric hedonic model for valuing wetlands

Okmyung Bin

Applied Economics Letters, 2005, vol. 12, issue 10, 597-601

Abstract: A semiparametric hedonic price function is estimated to examine the effects of proximity to wetlands on property values using extensive wetland inventory and housing market data from Portland-Oregon, USA. The semiparametric method used in this study allows for estimation of the hedonic price function with flexible functional form and is computationally easier than most non-parametric models. Four general categories of wetlands - open water, emergent vegetation, forested and scrub shrub wetlands - are differentiated. The results indicate that proximity to open water wetlands has a positive association with property values, while the other types of wetlands have either a negative or insignificant relationship.

Date: 2005
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Citations: View citations in EconPapers (15)

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DOI: 10.1080/13504850500188505

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