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    Author(s): Spencer Phillips
    Date: 2000
    Source: In: McCool, Stephen F.; Cole, David N.; Borrie, William T.; O’Loughlin, Jennifer, comps. 2000. Wilderness science in a time of change conference—Volume 2: Wilderness within the context of larger systems; 1999 May 23–27; Missoula, MT. Proceedings RMRS-P-15-VOL-2. Ogden, UT: U.S. Department of Agriculture, Forest Service, Rocky Mountain Research Station. p. 258-267
    Publication Series: Proceedings (P)
    Station: Rocky Mountain Research Station
    PDF: View PDF  (250 B)

    Description

    Land is a composite good, the price of which varies with its characteristics, including proximity to amenities. Using data from sales of land near Green Mountain National Forest wilderness areas in a hedonic price model, a positive relationship between proximity to protected wilderness and market values is revealed. The applications of this result include improved consideration of the positive economic impacts of land conservation and new mechanisms for financing land conservation.

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    Citation

    Phillips, Spencer 2000. Windfalls for wilderness: land protection and land value in the Green Mountains. In: McCool, Stephen F.; Cole, David N.; Borrie, William T.; O’Loughlin, Jennifer, comps. 2000. Wilderness science in a time of change conference—Volume 2: Wilderness within the context of larger systems; 1999 May 23–27; Missoula, MT. Proceedings RMRS-P-15-VOL-2. Ogden, UT: U.S. Department of Agriculture, Forest Service, Rocky Mountain Research Station. p. 258-267

    Keywords

    wilderness, land, conservation, land economics, land prices, amenity values, Green Mountain National Forest, Vermont

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