Windfalls for wilderness: land protection and land value in the Green Mountains

Abstract

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.

Parent Publication

• Wilderness science in a time of change conference-Volume 2: Wilderness within the context of larger systems; 1999 May 23-27; Missoula, MT

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