When local amenities are tied to natural land use features that cannot be developed for physical or regulatory reasons, the corresponding implicit price estimates from a hedonic housing model may reflect local supply constraints and confound estimation of natural amenity values. Using a spatial...

Using data from a conjoint instru- The public’s increased demand for farmment, we estimate compensating variation for the land preservation has coincided with the presence of neighboring land that is dedicated to expansion of urban areas into once agriculagricultural use (versus developed...

The marginal values of different open space attributes are tested using a hedonic pricing model with residential sales data from central Maryland. The identification problems that arise due to endogenous land use spillovers and unobserved spatial correlation are addressed using instrumental...