GIS-based hedonic pricing of landscape

Hedonic prices of landscape are estimated in the urban fringe of Dijon (France). Viewshed and its content as perceived at ground level are analyzed from satellite images supplemented by a digital elevation model. Landscape attributes are then fed into econometric models (based on 2,667 house sales)...

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Bibliographic Details
Published in:Environmental & resource economics 2009, Vol.44 (4), p.571-590
Main Authors: Cavailhès, Jean, Brossard, Thierry, Foltête, Jean-Christophe, Hilal, Mohamed, Joly, Daniel, Tourneux, François-Pierre, Tritz, Céline, Wavresky, Pierre
Format: Article
Language:English
Subjects:
Economics and Finance
Humanities and Social Sciences
Online Access:Get full text
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Summary:Hedonic prices of landscape are estimated in the urban fringe of Dijon (France). Viewshed and its content as perceived at ground level are analyzed from satellite images supplemented by a digital elevation model. Landscape attributes are then fed into econometric models (based on 2,667 house sales) that allows for endogeneity, multicollinearity, and spatial orrelations. Results show that when in the line of sight, trees and farmland in the immediate vicinity of houses command positive prices and roads negative prices; if out of sight, their prices are markedly lower or insignificant: the view itself matters. The layout of features in fragmented landscapes commands positive hedonic prices. Landscapes and features in sight but more than 100–300 m away all have insignificant prices.
ISSN:0924-6460
1573-1502
DOI:10.1007/s10640-009-9302-8