The paper considers methodological issues pertinent to the economic assessment of ecosystem services. It is primarily written for a natural science audience however it also proposes a methodology which is intended to be of interest to economists charged with undertaking valuation work for...

Previous work on hedonic price functions tends to have focused on one of a number of specification and estimation issues; namely, market segmentation, choice of functional form, multicollinearity or spatial autocorrelation. The purpose of this paper is to bring together these various strands to...

Recent advances in the theoretical understanding of equilibria in property markets predict that the equilibrium hedonic price function will typically be highly nonlinear. Rather than adopting progressively more flexible econometric specifications to deal with this nonlinearity we adopt an...

A frequent assumption of hedonic price estimation using property market data is that spatial autocorrelation of regression residuals is a feature of the error generating process. Under this assumption, spatial error dependence models that impose a specific spatial structure on the error...

The paper seeks to contribute to the expanding literature on ecosystem service assessment by considering its integration with economic analyses of such services. Focussing upon analyses for future orientated policy and decision making, we initially consider a single period during which...

The paper considers methodological issues pertinent to the economic assessment of ecosystem services. It is primarily written for a natural science audience however it also proposes a methodology which is intended to be of interest to economists charged with undertaking valuation work for...