Using a geographic information system to estimate an hedonic price model of the benefits of woodland access |
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| Authors: | POWE, N. A. GARRAOD, G. D. BRUNSDON, C. F. WILLIS, K. G. |
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| Affiliation: | Centre for Research in Environmental Appraisal and Management, Department of Town and Country Plan ning, University of Newcastle upon Tyne Newcastle upon Tyne NFl 7RU, England |
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| Abstract: | The hedonic price method may be used to investigate the effectthat the attributes of a product have on its market price. Inthe case of housing, this methodology has been used to lookat the premium that the amenity offered by nearby woodland addsto house prices. The interpretation of the results of thesestudies is difficult and is the subject of some debate. In particular,it has been argued that the aesthetic benefits of woodland,as a component of landscape, cannot be enumerated using thehedonic approach. This paper adopts a broader approach and useshedonic pricing to estimate the amenity benefits gained by localresidents from access to woodland. To accomplish this a geographicinformation system is used to improve the data available tothe hedonic price model from which estimates of the residentialaccess benefits of woodland are derived |
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