Measuring amenity benefits from farmland: Hedonic pricing vs. contingent valuation

Richard C Ready, Mark C. Berger, Glenn C. Blomquist

Research output: Contribution to journalArticle

84 Scopus citations

Abstract

The amenity value to Kentucky residents from horse farm land was estimated using both the contingent valuation method and the hedonic pricing method. The hedonic pricing model included both the housing and labor markets. A value function estimated from dichotomous choice contingent valuation responses showed that the value of a change in the level of the horse farm amenity was sensitive to the size of the change, with no evidence of value that is independent of the size of the change. The two methods generated estimates of the external benefits from horse farm land that were within 20 percent of each other.

Original languageEnglish (US)
Pages (from-to)438-458
Number of pages21
JournalGrowth and Change
Volume28
Issue number4
DOIs
StatePublished - Jan 1 1997

All Science Journal Classification (ASJC) codes

  • Global and Planetary Change

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