Spatial Hedonic Approach to Assess the Impact of Swine Production on Residential Property Values
A spatial hedonic model is developed to assess monetary harm of confined animal feeding operations (CAFOs) on property values, taking explicitly into account spatial dependence in property values. Spatial autocorrelation was found in the form of spatial lag dependence, not spatial error dependence....
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| Veröffentlicht in: | Environmental & resource economics 2009-04, Vol.42 (4), p.509-534 |
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| container_title | Environmental & resource economics |
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| creator | Kim, Jungik Goldsmith, Peter |
| description | A spatial hedonic model is developed to assess monetary harm of confined animal feeding operations (CAFOs) on property values, taking explicitly into account spatial dependence in property values. Spatial autocorrelation was found in the form of spatial lag dependence, not spatial error dependence. When spatial lag dependence is explicitly taken into account, on average the impact coefficient estimate of a CAFO is reduced by 18%. For example, the impact on the value of the median house ($63,520) 1 mile from a swine facility with 10,000 head fell from - $6,800 to - $5,200, or 23.5%. The magnitude of the spatial autoregressive parameter was about 0.2 for the 1-mile distance band, meaning one-fifth of the house value could be explained by the values of the neighboring houses. |
| doi_str_mv | 10.1007/s10640-008-9221-0 |
| format | Article |
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Spatial autocorrelation was found in the form of spatial lag dependence, not spatial error dependence. When spatial lag dependence is explicitly taken into account, on average the impact coefficient estimate of a CAFO is reduced by 18%. For example, the impact on the value of the median house ($63,520) 1 mile from a swine facility with 10,000 head fell from - $6,800 to - $5,200, or 23.5%. The magnitude of the spatial autoregressive parameter was about 0.2 for the 1-mile distance band, meaning one-fifth of the house value could be explained by the values of the neighboring houses.</description><subject>Agricultural production</subject><subject>Air pollution</subject><subject>CAFO</subject><subject>Central business districts</subject><subject>concentrated animal feeding operations</subject><subject>Confined animal feeding operations</subject><subject>Consumers</subject><subject>Economic Policy</subject><subject>Economics</subject><subject>Economics and Finance</subject><subject>Environmental Economics</subject><subject>Environmental Law/Policy/Ecojustice</subject><subject>Environmental Management</subject><subject>Equilibrium</subject><subject>Externality</subject><subject>Factory farming</subject><subject>Family income</subject><subject>Farming</subject><subject>Farms</subject><subject>Hog farms</subject><subject>Hogs</subject><subject>Houses</subject><subject>Housing</subject><subject>Housing values</subject><subject>Literature reviews</subject><subject>Livestock</subject><subject>Odor</subject><subject>odors</subject><subject>Pigs</subject><subject>Prices</subject><subject>Property</subject><subject>Property rights</subject><subject>Property values</subject><subject>Real estate</subject><subject>Real estate market</subject><subject>Residential areas</subject><subject>Space</subject><subject>Spatial autocorrelation</subject><subject>Spatial hedonics</subject><subject>swine</subject><subject>Swine production</subject><subject>Utility 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Hedonic Approach to Assess the Impact of Swine Production on Residential Property Values</title><author>Kim, Jungik ; Goldsmith, Peter</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c565t-61b249d1f63a461ffe6710e4de6029ca70e051d8db9f9a09cd7070e354c142363</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2009</creationdate><topic>Agricultural production</topic><topic>Air pollution</topic><topic>CAFO</topic><topic>Central business districts</topic><topic>concentrated animal feeding operations</topic><topic>Confined animal feeding operations</topic><topic>Consumers</topic><topic>Economic Policy</topic><topic>Economics</topic><topic>Economics and Finance</topic><topic>Environmental Economics</topic><topic>Environmental Law/Policy/Ecojustice</topic><topic>Environmental Management</topic><topic>Equilibrium</topic><topic>Externality</topic><topic>Factory farming</topic><topic>Family 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Spatial autocorrelation was found in the form of spatial lag dependence, not spatial error dependence. When spatial lag dependence is explicitly taken into account, on average the impact coefficient estimate of a CAFO is reduced by 18%. For example, the impact on the value of the median house ($63,520) 1 mile from a swine facility with 10,000 head fell from - $6,800 to - $5,200, or 23.5%. The magnitude of the spatial autoregressive parameter was about 0.2 for the 1-mile distance band, meaning one-fifth of the house value could be explained by the values of the neighboring houses.</abstract><cop>Dordrecht</cop><pub>Dordrecht : Springer Netherlands</pub><doi>10.1007/s10640-008-9221-0</doi><tpages>26</tpages></addata></record> |
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| identifier | ISSN: 0924-6460 |
| ispartof | Environmental & resource economics, 2009-04, Vol.42 (4), p.509-534 |
| issn | 0924-6460 1573-1502 |
| language | eng |
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| source | RePEc; SpringerLink Journals - AutoHoldings |
| subjects | Agricultural production Air pollution CAFO Central business districts concentrated animal feeding operations Confined animal feeding operations Consumers Economic Policy Economics Economics and Finance Environmental Economics Environmental Law/Policy/Ecojustice Environmental Management Equilibrium Externality Factory farming Family income Farming Farms Hog farms Hogs Houses Housing Housing values Literature reviews Livestock Odor odors Pigs Prices Property Property rights Property values Real estate Real estate market Residential areas Space Spatial autocorrelation Spatial hedonics swine Swine production Utility functions |
| title | Spatial Hedonic Approach to Assess the Impact of Swine Production on Residential Property Values |
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