Valuing Beach Quality with Hedonic Property Models

Landry, Craig E.; Hindsley, Paul

doi:10.3368/le.87.1.92

Cited by 100 publications

(74 citation statements)

References 37 publications

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“…1 Beach nourishment with spatial interaction between two communities is not a zero-sum game in which one participant's gain or loss is exactly balanced by the losses or gains of the other participant. A concave benefits function, which the empirical literature supports Landry and Hindsley 2011;Pompe and Rinehart 1995a), implies that the benefits from sediment transfer to the town with a narrower beach (Community 1) are greater than the losses to the town with a wider beach (Community 2). The community with a wider beach will nourish its beach as long as the marginal benefits are greater than the sum of nourishment costs and value of width lost due to sediment transfer.…”

Section: Decentralized Versus Coordinated Managementmentioning

confidence: 92%

Decentralized Management Hinders Coastal Climate Adaptation: The Spatial-dynamics of Beach Nourishment

Gopalakrishnan

McNamara

Smith

et al. 2016

Environ Resource Econ

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Climate change threatens to alter coastline erosion patterns in space and time and coastal communities adapt to these threats with decentralized shoreline stabilization measures. We model interactions between two neighboring towns, and explore welfare implications of spatial-dynamic feedbacks in the coastal zone. When communities are adjacent, the community with a wider beach loses sand to the community with a narrower beach through alongshore sediment transport. Spatial-dynamic feedbacks create incentives for both communities to nourish less, resulting in lower long-run beach width and lower property values in both communities, a result that parallels the classic prisoner's dilemma. Intensifying erosion-consistent with accelerating sea level rise-increases the losses from failure to coordinate. Higher erosion also increases inequality in the distribution of benefits across communities under spatially coordinated management. This disincentive to coordinate suggests the need for higher-level government intervention to address a traditionally local problem. We show that a spatially targeted subsidy can achieve the first best outcome, and explore conditions under which a second-best uniform subsidy leads to small or large losses.

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Section: Decentralized Versus Coordinated Managementmentioning

confidence: 92%

Decentralized Management Hinders Coastal Climate Adaptation: The Spatial-dynamics of Beach Nourishment

Gopalakrishnan

McNamara

Smith

et al. 2016

Environ Resource Econ

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“…With active shoreline stabilization (e.g., via beach nourishment), property values that reflect benefits from beach nourishment may also tend to simultaneously influence subsequent nourishment decisions and therefore beach width. Accounting for these dynamics of beach width and knowledge and expectations of individual home buyers can dramatically affect estimates and interpretation of coastal amenity values (Landry and Hindsley, 2011;Gopalakrishnan et al, 2011). Feedbacks in the coupled coastal-economic system are further supported by empirical analysis of beach nourishment in North Carolina , where predicted time intervals (years) between nourishment events are closer to observed intervals when beach amenity values used to parameterize a dynamic model of optimal beach management incorporate feedbacks (Figure 7.4).…”

Section: Socioeconomic System Dynamicsmentioning

confidence: 95%

“…Hedonic property models can be used to estimate economic values stemming from coastal resource quality and to predict how coastal real estate markets respond to changes in the physical geomorphic system. These models have been used extensively to measure the impact of beach width (Brown and Pollakowski, 1977;Landry et al, 2003;Landry and Hindsley, 2011) and storm risks (Bin et al, 2008) on coastal property values. The distribution of property values across spatial locations ultimately depends on economic agents who decide where to locate, sorting into different properties and markets according to their income, their preference for amenities as well as their assessments and preferences about erosion and storm risk.…”

Section: Socioeconomic System Dynamicsmentioning

confidence: 99%

Geoengineering Coastlines? From Accidental to Intentional

et al. 2015

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“…It is used worldwide as a form of soft engineering to protect coastal development from the impacts of unmanaged erosion (Greene and Fund 2002). It serves to maintain the value of coastal investments (Landry and Hindsley 2011) and retain the value of beach amenity to tourism and recreation (Klein et al 2004;Smith et al 2009), (Fig. 5a).…”

Section: And Beach Fillsmentioning

confidence: 98%

Coastal protection measures, case study (Mediterranean zone, Egypt)

2015

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The rapid erosion in most coastlines is considered a major problem not only in Egypt, but also around the world. The main causes are due to anthropogenic activities and/or coastal hydrodynamics. The coastal zone suffers from sedimentation, accretion, and pollution problems as well as the side effect of climate change. The climate change will increase sea level rise, salt water intrusions, and storm surge. Major efforts has been exerted to manage coastal erosion problems and to restore coastal capacity in order to protect housing, infrastructure and the cultivated land. These problems were encountered with various types of hard structures, but most of these methods response were limited due to lack in evaluation of the entire ecological situation. This encouraged the coastal engineers to think about new types of environmental friendly structures work better with ecological situation. In this study, the protection measures worldwide is reviewed and divided mainly into four groups, hard, soft, combined, innovative measures. The usage and side effect of each type is mentioned briefly. It is clear that there is a predominant approach towards the soft engineering, the eco-engineering techniques, or combination between them in order to enhance the ecological situation. Recently, there are several efforts to apply these new technologies to protect the coastal zone as well as the environment by taking into consideration the effect of climate change. These new approaches in coastal protection are multi used, environmentally friendly, easy to modify and maintain, and efficient from an economic perspective. Previous efforts in solving coastal problems in Egypt are analyzed and discussed taking into consideration the experience of similar cases worldwide. It is clear that the environmental friendly coastal structure is more suitable to solve most of our coastal problems with saving our ecosystem and reduce the protection cost.

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Valuing Beach Quality with Hedonic Property Models

Cited by 100 publications

References 37 publications

Decentralized Management Hinders Coastal Climate Adaptation: The Spatial-dynamics of Beach Nourishment

Decentralized Management Hinders Coastal Climate Adaptation: The Spatial-dynamics of Beach Nourishment

Geoengineering Coastlines? From Accidental to Intentional

Coastal protection measures, case study (Mediterranean zone, Egypt)

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