The Effects of Environmental Amenities on Agricultural Land Values

James R. Wasson, Donald M. McLeod, Christopher T. Bastian and Benjamin S. Rashford

Land Economics, 2013, vol. 89, issue 3

Abstract: Ascribing agricultural land values solely to productive capacity does not accurately capture the impact of environmental amenities on western land prices. We analyze rural land prices in Wyoming using a hedonic price model. Geographic information systems data includes on-parcel wildlife and fish habitat, scenic view attributes, and distance to protected federal lands. Feasible generalized least squares is used to address spatial autocorrelation and heteroskedasticity. Results indicate that environmental amenities contribute to land values. Examination of the marginal effects of amenities on parcel price furthers these conclusions. Environmental amenities contributions to land prices may guide resource allocation decisions across diverse demands.

JEL-codes: Q24 (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (18)

Downloads: (external link)
http://le.uwpress.org/cgi/reprint/89/3/466
A subscription is required to access pdf files. Pay per article is available.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:uwp:landec:v:89:y:2013:iii:1:p:466-478

Access Statistics for this article

More articles in Land Economics from University of Wisconsin Press
Bibliographic data for series maintained by ().