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Horsch, Eric J.; Lewis, David J.. |
The invasion of ecosystems by non-native species is widely considered to be a principal threat to global biological diversity, yet the social costs of invasive species are not well-understood. The purpose of this study is to estimate a hedonic model of lakeshore property values to quantify the effects of a common aquatic invasive species – Eurasian Watermilfoil – on property values across an extensive system of over 170 lakes in the northern forest region of Wisconsin. In addition to providing empirical evidence as to the potential benefits from reducing the spread of invasive species, this paper also develops a quasi-experimental methodology to identify the effects of changes in endogenous neighborhood amenities within the commonly estimated hedonic... |
Tipo: Conference Paper or Presentation |
Palavras-chave: Land Economics/Use; Resource /Energy Economics and Policy. |
Ano: 2008 |
URL: http://purl.umn.edu/6199 |
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Horsch, Eric J.; Lewis, David J.. |
This study uses hedonic analysis to estimate the effects of a common aquatic invasive species – Eurasian Watermilfoil (milfoil) – on property values across an extensive system of over 170 lakes in the northern forest region of Wisconsin. Since milfoil is inadvertently spread by recreational boaters, and since boaters are more likely to visit attractive lakes, variables indicating the presence of milfoil are endogenous in a hedonic model. Using an identification strategy based on a spatial difference-in-differences specification, results indicate that lakes invaded with milfoil experienced an average 13% decrease in land values after invasion. |
Tipo: Working or Discussion Paper |
Palavras-chave: Environmental Economics and Policy. |
Ano: 2008 |
URL: http://purl.umn.edu/92216 |
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