Valuation of urban parks

https://doi.org/10.1016/0169-2046(88)90022-9Get rights and content

Abstract

One reason why urban parks and open spaces are subject to development pressure is that planners and researchers have been unable to articulate their value in economic terms. Three valuation techniques — each with its own strengths and weaknesses — have been applied to urban parks. This paper reviews the three techniques and presents study results from the hedonic valuation technique. Study results indicate landscape planners need to be aware of the strengths and shortcomings of each to properly evaluate research on this topic.

References (16)

  • R.C. Bishop et al.

    Measuring the values of extramarket goods: are indirect measures biased

    Am. J. Agric. Econ.

    (1979)
  • M. Corrill et al.

    The effects of greenbelts on residential property values: some findings on the political economy of open space

    Land Econ.

    (1978)
  • J. Dwyer et al.

    Improved procedures for valuation of the contribution of recreation to national economic development

  • J. Dwyer et al.

    Estimating the value of urban forests using the travel cost method

    J. Arboric.

    (1983)
  • J. Hagerty et al.

    Benefits from urban open space and recreational parks: a case study

    J. Northeastern Agric. Econ. Council

    (1982)
  • T.T. Hammer et al.

    The effect of a large urban park on real estate value

    J. Am. Inst. Plann.

    (1974)
  • A. Hecksher

    Open Spaces: the Life of American Cities

    (1977)
  • J. Jacobs

    The Death and Life of Great American Cities

    (1961)
There are more references available in the full text version of this article.

Cited by (106)

  • Rethinking urban park irrigation under climate change

    2022, Journal of Environmental Management
View all citing articles on Scopus
View full text