| This research uses a sequence of hedonic housing price regressions to estimate open space amenity values. The iterative approach empirically identifies the range of distance over which open space affects housing values. After controlling for numerous other factors in the spatial hedonic model, simple functional relationships were established between the implicit prices of developed open space, forest-land open space, and agriculture-wetland open space and the buffer radius of the area surrounding a given location. In the case of Nashville-Davidson County, Tennessee, households place a positive value on additional developed open space and forest-land open space up to distances of 2.2 miles and 1.5 miles, respectively, and a negative value for additional... |
