RT Journal Article
SR Electronic
T1 Convergent Validity of Satellite and Secchi Disk Measures of Water Clarity in Hedonic Models
JF Land Economics
JO Land Econ
FD University of Wisconsin Press
SP 39
OP 58
DO 10.3368/le.97.1.050819-0062R1
VO 97
IS 1
A1 Wolf, David
A1 Kemp, Thomas
YR 2021
UL http://le.uwpress.org/content/97/1/39.abstract
AB Budget-constrained environmental agencies across the United States are limited in their ability to monitor water quality changes using traditional in situ sampling. Satellite-based monitoring systems represent a lower-cost alternative. It is unclear, however, how this transition will impact nonmarket valuation estimates of perceived water quality. To answer this question, we merge housing information with Secchi depth and satellite estimates of water clarity from over 100 lakes in Wisconsin. A comparison of hedonic price functions reveals satellite estimates of water clarity provide a stronger statistical fit of housing price and produce implicit prices up to 11% larger in magnitude.