PT  - JOURNAL ARTICLE
AU  - Zabel, Jeffrey
AU  - Nolte, Christoph
AU  - Paterson, Robert
TI  - Measuring the Value of U.S. National Parks using Hedonic Property Value Models
AID  - 10.3368/le.100.1.102122-0088R1
DP  - 2023 Aug 18
TA  - Land Economics
PG  - 102122-0088R1
4099  - http://le.uwpress.org/content/early/2023/08/15/le.100.1.102122-0088R1.short
4100  - http://le.uwpress.org/content/early/2023/08/15/le.100.1.102122-0088R1.full
AB  - The National Park Service (NPS) is expected to calculate the economic benefits of national parks for use when evaluating policy and management options of the parks (Loomis 2002). We estimate the marginal willingness to pay (MWTP) to live close to a national park that is capitalized into house prices for 18 national parks. We find that estimated effects can be significant and are heterogeneous across different types of parks. However, these effects can also be attributed to other factors in the housing market which brings the significance of these estimated impacts into question.