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Benefits from Urban Open Space and Recreational Parks: A Case Study

Published online by Cambridge University Press:  10 May 2017

John K. Hagerty ,
T. H. Stevens ,
P. G. Allen  and
T. More
John K. Hagerty
Affiliation:
Department of Food and Resource Economics, University of Massachusetts, Amherst
T. H. Stevens
Affiliation:
Department of Food and Resource Economics, University of Massachusetts, Amherst
P. G. Allen
Affiliation:
Department of Food and Resource Economics, University of Massachusetts, Amherst
T. More
Affiliation:
USDA Forest Service, Northeast Forest Experiment Station, Amherst
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Abstract

The hedonic pricing technique was used to measure that component of house price attributable to proximity to a city park, using data on sale prices and characteristics of houses in Worcester, MA. Aggregation of these residual values over all houses in the neighborhood of a park provided an estimate of the value of the park, to which was added an estimate of recreation benefits from extrazonal users. The policy question of park system development or contraction was addressed by comparing these benefits with operating costs to gain a net measure of parkland value.

Type
Articles
Information
Journal of the Northeastern Agricultural Economics Council , Volume 11 , Issue 1 , Spring 1982 , pp. 13 - 20
Copyright
Copyright © Northeastern Agricultural and Resource Economics Association 

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Footnotes

This research was supported in part by funds provided by the USDA Forest Service, Northeast Forest Experiment Station, in cooperation with the Massachusetts Agricultural Experiment Station.

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