The Effects of Aquatic Invasive Species on Property Values: Evidence from a Quasi-Random Experiment

Eric J. Horsch and David Lewis

No 92216, Staff Papers from University of Wisconsin-Madison, Department of Agricultural and Applied Economics

Abstract: This study uses hedonic analysis to estimate the effects of a common aquatic invasive species – Eurasian Watermilfoil (milfoil) – on property values across an extensive system of over 170 lakes in the northern forest region of Wisconsin. Since milfoil is inadvertently spread by recreational boaters, and since boaters are more likely to visit attractive lakes, variables indicating the presence of milfoil are endogenous in a hedonic model. Using an identification strategy based on a spatial difference-in-differences specification, results indicate that lakes invaded with milfoil experienced an average 13% decrease in land values after invasion.

Keywords: Environmental; Economics; and; Policy (search for similar items in EconPapers)
Pages: 40
Date: 2008-11
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Citations: View citations in EconPapers (1)

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https://ageconsearch.umn.edu/record/92216/files/stpap530.pdf (application/pdf)

Related works:
Working Paper: The Effects of Aquatic Invasive Species on Property Values: Evidence from a Quasi-Random Experiment (2008)
Working Paper: The Effects of Aquatic Invasive Species on Property Values: Evidence from a Quasi-random Experiment (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:wisagr:92216

DOI: 10.22004/ag.econ.92216

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