Property value effects of the Hemlock wooly adelgid infestation in New England, USA

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dc.contributor.authorLi, Xiaoshuen
dc.contributor.authorBoyle, Kevin J.en
dc.contributor.authorPreisser, Evan L.en
dc.contributor.authorHolmes, Thomas P.en
dc.contributor.authorOrwig, Daviden
dc.date.accessioned2023-05-31T13:29:09Zen
dc.date.available2023-05-31T13:29:09Zen
dc.date.issued2022-04en
dc.description.abstractWe investigate residential property-price effects of the spread of the Hemlock wooly adelgid infestation northward through central portions of Connecticut and Massachusetts, USA. We find that hemlock trees and the accompanying adelgid infestation within 0.1 km buffers of properties affect sale prices, but the results do not extend to buffers of 0.5 and 1.0 km's. Further, within the 0.1 km buffer, only the healthiest hemlock trees contribute positively to property values. We investigated the robustness of the results to three data interpolation methods, Kriging, Inverse Distance Weighting and Spline, and while there was some minor difference in outcomes the results are robust to these interpolation methods. Two property-price models were estimated, a traditional hedonic model with spatial fixed effects and a repeat sale model. The models provide substantially different property-price impacts and care needs to be taken when interpreting these estimates. Both approaches are limited but in different ways; the hedonic by potentially omitted variables and the repeat-sales by a limited number of observations. Our results provide some support for the repeat-sale model as the hedonic model with spatial fixed effects underperformed when both models were estimated using the same data.en
dc.description.adminPublic domain – authored by a U.S. government employeeen
dc.description.notesAcknowledgements This research was supported by U.S. Department of Agriculture and the U.S. Forest Service, Southern Research Station.en
dc.description.sponsorshipU.S. Department of Agriculture and the U.S. Forest Service, Southern Research Stationen
dc.description.versionPublished versionen
dc.format.mimetypeapplication/pdfen
dc.identifier.doihttps://doi.org/10.1016/j.ecolecon.2022.107354en
dc.identifier.eissn1873-6106en
dc.identifier.issn0921-8009en
dc.identifier.urihttp://hdl.handle.net/10919/115267en
dc.identifier.volume194en
dc.language.isoenen
dc.publisherElsevieren
dc.rightsPublic Domain (U.S.)en
dc.rights.urihttp://creativecommons.org/publicdomain/mark/1.0/en
dc.subjectHemlock wooly adelgiden
dc.subjectSpatial interpolationen
dc.subjectOrdinary Krigingen
dc.subjectHedonic modelen
dc.subjectRepeat-sale modelen
dc.titleProperty value effects of the Hemlock wooly adelgid infestation in New England, USAen
dc.title.serialEcological Economicsen
dc.typeArticle - Refereeden
dc.type.dcmitypeTexten

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