Valuing goods' characteristics: An application of the hedonic price method to environmental attributes

Garrod, Guy; Willis, Ken

doi:10.1016/s0301-4797(05)80110-0

Cited by 188 publications

(107 citation statements)

References 31 publications

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“…Studies have revealed that the number of accommodation particularly bedrooms (Fletcher, Mangan and Raeburn 2000;Carroll et al, 1996), the number of bath/ toilets (Garrod and Willis, 1992), and the floor area (Carroll et al, 1996;Rodriguez and Sirmans, 1994) are positively related to the sale price of houses. The reason is not farfetched.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Residential properties with bigger floor areas are desired by big families and buyers who can afford a better standard of living. Garrod and Willis (1992) discovered that an additional room increases a property's value by about 7%, and an extra bathroom collecting twice that premium. Wolverton (1997) studied the relationship between residential lot price and lot size in USA and found that residential lot price per square foot diminishes as lot size increases.…”

Section: Literature Reviewmentioning

confidence: 99%

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The Impact of Jacuzzi Bathtubs on House Prices

Otegbulu¹,

Johnson²

2011

JSD

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The study examines the impact of Jacuzzi bathtubs on house prices. Jacuzzi bathtubs have health related benefits. This study empirically tests a hedonic house pricing model using a sample of 138 houses in high income residential sub-market of Lekki phase one in Lagos metropolis. Forty-six duplexes have Jacuzzi bathtubs installed in their homes while Ninety-two do not. The study results show that that having Jacuzzi bathtubs increases home value by N2, 167,615.

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Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

The Impact of Jacuzzi Bathtubs on House Prices

Otegbulu¹,

Johnson²

2011

JSD

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“…Así, en el marco del análisis de las preferencias, si se reconoce que estas son explícitas (declaradas), es posible recurrir al método de VC que basa la asignación de valor a las preferencias individuales establecidas a partir de respuestas directas de los consumidores (Haro y Taddei, 2010). De otro lado, si se parte de preferencias implícitas (reveladas), un método adecuado para la valoración económica del ruido sería el de los precios hedónicos, el cual analiza el bien ambiental mediante el establecimiento de una relación entre el precio de un bien mercadeable y los atributos ambientales relacionados con este (Garrod, y Willis, 1992).…”

Section: Enfoques Establecidos Para La Valoración Económica Del Ruidounclassified

Valoración económica del ruido: una revisión analítica de estudios

2011

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RESUMENEl objetivo de este trabajo es establecer el estado del arte sobre la valoración económica del ruido a través de un recorrido por los diversos estudios realizados en el entorno mundial. Así, se explican los conceptos, medidas y los métodos usualmente utilizados en la valoración económica del ruido. Luego, mediante el método de análisis de contenido, se revisan los estudios desarrollados en Europa, Estados Unidos y Latinoamérica vinculados a las principales fuentes generadoras de ruido, a saber: tráfico de carreteras, de trenes y aeronaves. Finalmente, el estudio concluye que, a la luz de los diversos estudios analizados, los impactos más relevantes del ruido son la incidencia negativa sobre el precio viviendas y las molestias percibidas por los individuos, lo que genera una alta disposición pagar por hogar por la reducción de los niveles de ruido. PALABRAS CLAVE

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“…Drake, 1992;Garrod and Willis, 1992;Pruckner, 1995;Gonzalez and Leon, 2003). The majority of these studies have sought to place a monetary estimate on the benefits that particular landscapes generate for a given population.…”

Section: Evaluating Landscape Benefitsmentioning

confidence: 99%

“…Local trees were estimated by Anderson and Cordell (1988) to add 4% to house prices, whilst Morales (1980) estimated they added 6%. Garrod and Willis (1992) estimated that at least 20% general tree cover adjacent to a house added 7.1% to property prices.…”

Section: Aggregationmentioning

confidence: 99%

Assessing the Value of Forest Landscapes: A Choice Experiment Approach

Garrod

Ruto

Snowdon

2009

Arboricultural Journal

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Landscape planning and design occupies a major role in forest policy in the UK. Since the 1980s, UK forests have been managed increasingly for multi-purpose objectives, a policy which has been underpinned by international agreements on sustainable forestry. Within this context, there is a need to understand public preferences for forest landscapes in designing policies that meet the needs of multi-purpose forestry. This paper is based on a study to investigate public willingness to pay (WTP) for regular visual and recreational access to a wide variety of generic forest landscapes. A total of 33 forest landscapes were investigated, each of which was defined as a combination of the configuration of the planting and the landscape factors. Computer-generated images of each of these landscapes were used to underpin a series of choice experiments conducted as part of a questionnaire survey of over 400 households across Great Britain. The results confirm the importance of landscape in contributing to the social and environmental benefits provided by forests and suggests that current policies of woodland expansion may generate additional benefits especially if more woodland is located close to urban populations. The paper concludes by discussing the implications of these results for forest policy across the UK.

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Valuing goods' characteristics: An application of the hedonic price method to environmental attributes

Cited by 188 publications

References 31 publications

The Impact of Jacuzzi Bathtubs on House Prices

The Impact of Jacuzzi Bathtubs on House Prices

Valoración económica del ruido: una revisión analítica de estudios

Assessing the Value of Forest Landscapes: A Choice Experiment Approach

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