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Lookup NU author(s): Dr Neil Adrian Powe,
Professor Guy Garrod,
Dr Christopher Brunsdon,
Emeritus Professor Ken Willis
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The hedonic price method may be used to investigate the effect that the attributes of a product have on its market price. In the case of housing, this methodology has been used to look at the premium that the amenity offered by nearby woodland adds to house prices. The interpretation of the results of these studies 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 the hedonic approach. This paper adopts a broader approach and uses hedonic pricing to estimate the amenity benefits gained by local residents from access to woodland. To accomplish this a geographic information system is used to improve the data available to the hedonic price model from which estimates of the residential access benefits of woodland are derived.
Author(s): Powe NA, Garrod GD, Brunsdon CF, Willis KG
Publication type: Article
Publication status: Published
Print publication date: 01/01/1997
ISSN (print): 0015-752X
ISSN (electronic): 1464-3626
Publisher: Oxford University Press
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