PT  - JOURNAL ARTICLE
AU  - Earnhart, Dietrich
TI  - Using Contingent-Pricing Analysis to Value Open Space and Its Duration at Residential Locations
AID  - 10.3368/le.82.1.17
DP  - 2006 Feb 01
TA  - Land Economics
PG  - 17--35
VI  - 82
IP  - 1
4099  - http://le.uwpress.org/content/82/1/17.short
4100  - http://le.uwpress.org/content/82/1/17.full
SO  - Land Econ2006 Feb 01; 82
AB  - To estimate benefits from open space adjacent to residences, this paper blends contingent valuation and conjoint analysis within a housing market context. The resulting framework — “contingent-pricing analysis,” — represents the stated preference counterpart to hedonic-pricing analysis by asking individuals to state prices for hypothetical housing locations, which include an environmental amenity. Then, it asks individuals to state their willingness to pay for a better and longer lasting environmental amenity. As an advantage over hedonic-pricing analysis, it directly isolates willingness to pay. Results indicate that potentially short-lasting open space adds no value, while preserved open space adds $ 5,066 or 5% to housing value. (JEL R14, Q24)