Property Values, Water Quality, and Benefit Transfer: A Nationwide Meta-analysis

Dennis Guignet, Matthew Heberling, Michael Papenfus and Olivia Griot

Land Economics, 2022, vol. 98, issue 2, 191-218

Abstract: We construct a comprehensive, publicly available meta-dataset based on 36 hedonic studies that examine the effects of water quality on housing values in the United States. The meta-dataset includes 656 unique estimates and entails a cluster structure that accounts for price effects at different distances. Focusing on water clarity, we estimate reduced-form meta-regressions that account for within-market dependence, statistical precision, housing market and waterbody heterogeneity, publication bias, and methodological practices. Although we find evidence of systematic heterogeneity, the out-of-sample transfer errors are large. We discuss the implications for benefit transfer and future work to improve transfer performance.

JEL-codes: Q51 Q53 (search for similar items in EconPapers)
Date: 2022
Note: DOI: 10.3368/le.98.2.050120-0062R1
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Citations: View citations in EconPapers (4)

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Related works:
Working Paper: Property values, water quality, and benefit transfer: A nationwide meta-analysis (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:uwp:landec:v:98:y:2022:i:2:p:191-218

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