Table 1

Sample Selection Criteria and Modeling Choices

CategoryCriterion TypeSubcategoryBaseline ChoiceAlternative
Water qualityMeasurementWater quality statisticSummer meanSummer minimum, summer maximum
Water qualityMeasurementWater quality timingClosest within ± 5 yearsYear of sale, year prior to sale, closest within previous 5 years
Water qualityMinimum thresholdCoefficient of variation for Secchi depth0.25N/A
PropertyMeasurementProperty attributesLot size; building size; building ageNone, bedrooms and bathroomsa
PropertyMaximum thresholdLakefront property buffer150 m300 m
PropertyMinimum thresholdSales in buffer10, 25
PropertyMaximum thresholdProperty distance to lake1,000 m2,500 m
Modeling Choices
Functional formSale price, water qualityLog, logLog, linear
Functional formCovariatesbLogN/A
Fixed effectsSpatial unitCensus tractBlock group
Fixed effectsInteractionsSpatial unit × sale yearSpatial unit + sale year
  • a All combinations of property attributes are considered (e.g., individual attributes, two at a time, three at a time, and all attributes). Bedrooms and bathrooms are always included together.

  • b In addition to the selected property attributes, model covariates include distance to lake, lake area, median income of block group, and slope and elevation of the parcel.