RT Journal Article
SR Electronic
T1 Estimating the Demand for Tree Canopy: A Second-Stage Hedonic Price Analysis in Portland, Oregon
JF Land Economics
JO Land Econ
FD University of Wisconsin Press
SP 281
OP 293
DO 10.3368/le.86.2.281
VO 86
IS 2
A1 Noelwah R. Netusil
A1 Sudip Chattopadhyay
A1 Kent F. Kovacs
YR 2010
UL http://le.uwpress.org/content/86/2/281.abstract
AB The benefits of large patches of tree canopy are estimated by applying a hedonic price model to the sale of single-family residential properties in Portland, Oregon. The first-stage analysis provides evidence of diminishing returns from increasing tree canopy past a certain level. The second-stage analysis uses a survey of property owners’ preferences and socioeconomic characteristics to overcome the problem of endogeneity. Average benefit estimates for the mean canopy cover within ¼ mile of properties in the study area, using the second-stage model, are between 0.75% and 2.52% of the mean sale price. (JEL Q21, Q51)