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What Have We Learned from Over 20 Years of Farmland Amenity Valuation Research in North America?
Author(s) -
Bergstrom John C.,
Ready Richard C.
Publication year - 2009
Publication title -
applied economic perspectives and policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.4
H-Index - 49
eISSN - 2040-5804
pISSN - 2040-5790
DOI - 10.1111/j.1467-9353.2008.01424.x
Subject(s) - amenity , valuation (finance) , agricultural economics , regional science , economics , geography , natural resource economics , finance
Abstract At least thirty studies have been conducted in North America over the last twenty‐plus years that measure amenity values generated by farmland. A review of these studies provides evidence that estimated farmland amenity values are sensitive to increasing acreage, regional scarcity, alternative land use(s), public accessibility, productivity quality, human food plants, active farming, and intensive agriculture. Farmland amenity values are also sensitive to socio‐demographic characteristics of beneficiaries. Inconclusive evidence is provided with respect to the effects of distance, agricultural land use, unique landscape features, property rights, and nonfarmland amenity substitutes. Implications of these results for future farmland amenity valuation research are discussed.