Accounting for Heterogeneity of Public Lands in Hedonic Property Models

摘要: Open space lands, national forests in particular, are usually treated as homogeneous entities hedonic price studies. Failure to account for the heterogeneous nature of public open spaces may result inappropriate inferences about benefits proximate location such lands. In this study method is used estimate marginal values proximity Pike National Forest. The results indicate that specifying forest overstates homes within two miles relative based on land use characteristics, because significant negative effect from noise-intensive activities omitted. (JEL H41, Q51)