Scandinavian Working Papers in Economics

CISEG Working Papers Series,
Jönköping International Business School, Centre for Innovation Systems, Entrepreneurship and Growth

No 5: Estimating Economic Values of Meadows and Grazings using Hedonic Housing Modeling and GIS

Pia Juusola ()
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Pia Juusola: Jönköping International Business School, Postal: P.O. Box 1026, SE-551 11 JÖNKÖPING, Sweden

Abstract: This paper uses the hedonic housing model to assess economic values to high value meadows and grazings located in rural settings. The hypothesis is that residential purchase prices include premiums for properties located in the surrounding areas of such environments. The dataset consist of 7565 property transactions sold during the period 1977-2007. The main findings are that houses located in the immediate surrounding area of these lands were on average 2.6 per cent more expensive which implies that the size of the premium approximately equals €3200 for these properties.

Keywords: Hedonic housing; Geographic information systems; Meadows; Grazings

JEL-codes: Q10; Q50

22 pages, March 11, 2009

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CISEG-WP-No-5.pdf PDF-file 

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