Maintaining Public Goods: The Capitalized Value of Local Park Renovations

References

1. ↵
   1. Abbott Joshua K.,
   2. Allen Klaiber H.

   2010. “Is All Space Created Equal? Uncovering the Relationship between Competing Land Uses in Subdivisions.” Ecological Economics 70 (2): 296–307

   OpenUrlCrossRefWeb of Science
2. ↵
   1. Abbott Joshua K.,
   2. Allen Klaiber H.

   2011. “An Embarrassment of Riches: Confronting Omitted Variable Bias and Multi-Scale Capitalization in Hedonic Price Models.” Review of Economics and Statistics 93 (4): 1331–42.

   OpenUrlCrossRef
3. ↵
   1. Acharya Gayatri,
   2. Bennett Lynne L.

   2001. “Valuing Open Space and Land-Use Patterns in Urban Watersheds.” Journal of Real Estate Finance and Economics 22 (2–3): 221–37.

   OpenUrlCrossRef
4. ↵
   1. Anderson Soren T.,
   2. West Sarah E.

   2006. “Open Space, Residential Property Values, and Spatial Context.” Regional Science and Urban Economics 36 (6): 773–89.

   OpenUrlCrossRefWeb of Science
5. ↵
   1. Asabere Paul,
   2. Huffman Forrest

   2009. “The Relative Impacts of Trails and Greenbelts on Home Price.” Journal of Real Estate Finance and Economics 38 (4): 408–19.

   OpenUrl
6. 1. Ashenfelter Orley

   1978. “Estimating the Effects of Training Programs on Earnings.” Review of Economics and Statistics 60 (1): 47–57.

   OpenUrlCrossRefWeb of Science
7. ↵
   1. Baltimore County Department of Recreation and Parks

   . 2012. Unpublished raw data. Baltimore County: Baltimore County Department of Recreation and Parks.
8. ↵
   1. Bolitzer Benjamin,
   2. Netusil Noelwah R.

   2000. “The Impact of Open Spaces on Property Values in Portland, Oregon.” Journal of Environmental Management 59 (3): 185–93.

   OpenUrlCrossRefWeb of Science
9. ↵
   1. Cheshire Paul,
   2. Sheppard Stephen

   1995. “On the Price of Land and the Value of Amenities.” Economica 62 (246): 247–67.

   OpenUrlCrossRefWeb of Science
10. ↵
    1. Cropper Maureen L.,
    2. Deck Leland B.,
    3. McConnell Kenneth

    1988. “On the Choice of Functional Form for Hedonic Price Functions.” Review of Economics and Statistics 70 (4): 668–75.

    OpenUrlCrossRefWeb of Science
11. ↵
    1. Dresser Michael

    2014. “Maryland Cuts Revenue Expectations by $405 Million.”. Baltimore Sun, September 25.
12. ↵
    1. Halvorsen Robert,
    2. Palmquist William D.

    1980. “The Interpretation of Dummy Variables in Semilogarithmic Equations.” American Economic Review 70 (3): 474–75.

    OpenUrlCrossRefWeb of Science
13. ↵
    1. Irwin Elena G.

    2002. “The Effects of Open Space on Residential Property Values.” Land Economics 78 (4): 465–80.

    OpenUrlAbstract/FREE Full Text
14. ↵
    1. Irwin Elena G.,
    2. Bockstael Nancy E.

    2001. “The Problem of Identifying Land Use Spillovers: Measuring the Effects of Open Space on Residential Property Values.” American Journal of Agricultural Economics 83 (3): 698–704.

    OpenUrlCrossRefWeb of Science
15. 1. Klaiber H. Allen,
    2. Kerry Smith V.

    2013. “Quasi Experiments, Hedonic Models, and Estimating Trade-offs for Local Amenities.” Land Economics 62 (2): 208–24.

    OpenUrl
16. ↵
    1. Kotchen Matthew J.,
    2. Powers Shawn M.

    2006. “Explaining the Appearance and Success of Voter Referenda for Open-Space Conservation.” Journal of Environmental Economics and Policy 52 (1): 373–90.

    OpenUrl
17. ↵
    1. Kousky Carolyn

    2010. “Learning from Extreme Events: Risk Perceptions after the Flood.” Land Economics 86 (3): 395–422.

    OpenUrlAbstract/FREE Full Text
18. ↵
    1. Kuminoff Nicolai V.,
    2. Parmeter Christopher F.,
    3. Pope Jaren C.

    2010. “Which Hedonic Models Can We Trust to Recover the Marginal Willingness to Pay for Environmental Amenities?” Journal of Environmental Economics and Management 60 (3): 145–60.

    OpenUrlCrossRefWeb of Science
19. ↵
    1. Kuminoff Nicolai V.,
    2. Pope Jaren C.

    2014. “Do ‘Capitalization Effects’ for Public Goods Reveal the Public’s Willingness to Pay?” International Economic Review 55 (4): 1227–50.

    OpenUrl
20. 1. Linden Leigh,
    2. Rockoff Jonah E.

    2008. “Estimates of the Impact of Crime Risk on Property Values from Megan’s Laws.” American Economic Review 98 (3): 1103–27.

    OpenUrlCrossRefWeb of Science
21. ↵
    1. Lovett Ian

    2011. “Do ‘Capitalization Effects’ for Public Goods Reveal the Public’s Willingness to Pay?” “Do ‘Capitalization Effects’ for Public Goods Reveal the Public’s Willingness to Pay?” “California Cuts Mean 70 Parks Will Be Closed.” New York Times, May 14, A14.
22. ↵
    1. Lutzenhiser Margot,
    2. Netusil Noelwah R.

    2001. “The Effect of Open Spaces on a Home’s Sale Price.”. Contemporary Economic Policy. 19 (3): 291–98.

    OpenUrlCrossRefWeb of Science
23. ↵
    1. Maryland-National Capital Park and Planning Commission

    . 2013. Playground Renovation Program. Silver Spring, MD: Montgomery County Department of Parks. Available at www.montgomeryparks.org/pdd/playground_renovation.shtm.
24. ↵
    1. McConnell Virginia,
    2. Walls Margaret

    2005. The Value of Open Space: Evidence from Studies of Non-market Benefits. Washington, DC: Resources for the Future.
25. ↵
    1. Montgomery County Department of Parks

    . 2012. Director’s Report. Silver Spring, MD: Montgomery County Department of Parks. Available at www.montgomeryparks.org/about/documents/DirectorsReport4_26_12FINALmb3.pdf.
26. ↵
    1. Palmquist Raymond B.

    1982. “Measuring Environmental Effects on Property Values without Hedonic Regressions”. Journal of Urban Economics 11 (3): 333–47.

    OpenUrlCrossRefWeb of Science
27. ↵
    1. Parsons George R.

    1991. “The Effect of Coastal Land Use Restrictions on Housing Prices: A Repeat Sale Analysis.” Journal of Environmental Economics and Management 22 (1): 25–37.

    OpenUrl
28. ↵
    1. Phaneuf Daniel J.,
    2. Requate Till

    2011. “Property Value Models.”. Unpublished manuscript. University of Wisconsin–Madison and Kiel University.
29. ↵
    1. Rosen Sherwin

    1974. “Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition.” Journal of Political Economy 82 (1): 34–55.

    OpenUrlCrossRefWeb of Science
30. ↵
    1. Smith V. Kerry,
    2. Poulos Christine,
    3. Kim Hyun

    2002. “Treating Open Space as an Urban Amenity.” Resource and Energy Economics 24 (1–2): 107–29.

    OpenUrlCrossRefWeb of Science
31. ↵
    1. U.S. Census Bureau

    . 2007. State and Local Government Finance. Washington, DC: U.S. Census Bureau. Available at www.census.gov//govs/local/historical_data_2007.html.