Renewal of waterways in a dense city creates value for residents

Polyakov, Maksym; Iftekhar, Sayed; Fogarty, James; Buurman, Joost

doi:10.1016/j.ecolecon.2022.107468

Cited by 9 publications

(2 citation statements)

References 40 publications

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“…Different metrics have been used to achieve this goal. One common approach is to use proximity to an asset either as a discrete variable (absence–presence within a certain distance; Garrod & Willis, 1994; Polyakov et al, 2017, 2022) or as a continuous variable (linear, log or inverse distance; Daams et al, 2016; Łaszkiewicz et al, 2019, 2022; Mahmoudi et al, 2013; Tapsuwan et al, 2009; Tyrväinen & Miettinen, 2000). However, this method can be problematic when dealing with multiple heterogeneous assets (Tapsuwan & Polyakov, 2016) or when the metric of interest is the size or extent of environmental assets.…”

Section: Methodsmentioning

confidence: 99%

Capitalised nonmarket benefits of multifunctional water‐sensitive urban infrastructure: A case of living streams

Akbari,

Polyakov,

Iftekhar

2023

Aus J Agri & Res Econ

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Living streams are an important element of decentralised stormwater management solutions. They are actively promoted due to their ability to generate multiple ecosystem services, including water quality improvement, biodiversity protection and aesthetics. However, a lack of monetised values of ecosystem services of living stream projects makes it difficult to assess the net benefits of investing in such projects. This study uses the hedonic pricing method to estimate the capitalised amenity values of living streams and other public open spaces (POS) in housing and lot markets for the first time. The study area includes two newly greenfield‐developed suburbs in the Perth metropolitan area. We find the positive impact of living streams and other POS on the house and lot prices. However, living streams generate greater value than other types of POS. Furthermore, the POS (including living streams) that support active recreation are valued more than basic POS without active recreation features. Finally, we observe, for the first time, that the benefits of planned but not yet constructed POS (including living stream) are similar to the completed POS (including living stream) in both housing and lot markets. This information is useful for policymakers and developers making informed decisions about water‐sensitive urban infrastructure.

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Section: Methodsmentioning

confidence: 99%

Capitalised nonmarket benefits of multifunctional water‐sensitive urban infrastructure: A case of living streams

Akbari,

Polyakov,

Iftekhar

2023

Aus J Agri & Res Econ

Self Cite

View full text Add to dashboard Cite

show abstract

“…To determine whether the study results are influenced by variables such as year or other unobserved factors, this study refers to the studies of Polyakov et al ( 2022) and Godsell et al ( 2023) and conducts the placebo test by using a randomly fictitious treatment group [37,38]. The specific procedure is as follows: Firstly, the policy year of the sample is randomly selected.…”

Section: Placebo Testmentioning

confidence: 99%