Water quality and cottage prices in Ontario
We use hedonic analysis to show that water clarity has a significant effect on lakefront property values in the Near North Ontario, Canada. In this study, water clarity is measured by Secchi disc reading. Based on two different dependent variables; sales price and sales price per square foot, and the estimation of linear, log--linear and log--log models, we find that water clarity does matter to lakefront property buyers in the Near North, Ontario. In particular, our results indicate that buyers are willing to pay about 2% more for each 1-foot increase in water clarity or Secchi depth. This finding is consistent across all of our specifications.
Year of publication: |
2014
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Authors: | Clapper, Julia ; Caudill, Steven B. |
Published in: |
Applied Economics. - Taylor & Francis Journals, ISSN 0003-6846. - Vol. 46.2014, 10, p. 1122-1126
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Publisher: |
Taylor & Francis Journals |
Saved in:
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