Do people value farmers markets: A spatial hedonic pricing model approach
Farmers markets can generate positive externalities by improving food access and negative externalities through pollution. The presence of both may influence people’s willingness to pay (WTP) for living nearby. This study employs spatial hedonic pricing models to estimate the WTP for living near far...
| Main Authors: | , , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Cambridge University Press
|
| Series: | Agricultural and Resource Economics Review |
| Subjects: | |
| Online Access: | https://www.cambridge.org/core/product/identifier/S1068280524000017/type/journal_article |
| _version_ | 1797311017685876736 |
|---|---|
| author | Yanan Zheng Meng Yang Henry An Feng Qiu |
| author_facet | Yanan Zheng Meng Yang Henry An Feng Qiu |
| author_sort | Yanan Zheng |
| collection | DOAJ |
| description | Farmers markets can generate positive externalities by improving food access and negative externalities through pollution. The presence of both may influence people’s willingness to pay (WTP) for living nearby. This study employs spatial hedonic pricing models to estimate the WTP for living near farmers markets in Edmonton, Canada. We find an inverted U-shaped relationship between proximity to a farmers market and property values. Our results suggest that local governments might consider the economic impact of building new or relocating existing farmers markets on residential housing values, alongside the benefits of improved access to high-quality food sources. |
| first_indexed | 2024-03-08T01:52:29Z |
| format | Article |
| id | doaj.art-e962d071f30e49f7b81910968a307733 |
| institution | Directory Open Access Journal |
| issn | 1068-2805 2372-2614 |
| language | English |
| last_indexed | 2024-03-08T01:52:29Z |
| publisher | Cambridge University Press |
| record_format | Article |
| series | Agricultural and Resource Economics Review |
| spelling | doaj.art-e962d071f30e49f7b81910968a3077332024-02-14T10:07:23ZengCambridge University PressAgricultural and Resource Economics Review1068-28052372-261412110.1017/age.2024.1Do people value farmers markets: A spatial hedonic pricing model approachYanan Zheng0Meng Yang1https://orcid.org/0000-0001-8095-4987Henry An2Feng Qiu3Department of Agricultural and Resource Economics, University of California, Davis, Davis, CA, USASchool of Public Administration, Zhongnan University of Economics and Law, Wuhan, Hubei, ChinaDepartment of Resource Economics and Environmental Sociology, University of Alberta, Edmonton, AB, CanadaDepartment of Resource Economics and Environmental Sociology, University of Alberta, Edmonton, AB, CanadaFarmers markets can generate positive externalities by improving food access and negative externalities through pollution. The presence of both may influence people’s willingness to pay (WTP) for living nearby. This study employs spatial hedonic pricing models to estimate the WTP for living near farmers markets in Edmonton, Canada. We find an inverted U-shaped relationship between proximity to a farmers market and property values. Our results suggest that local governments might consider the economic impact of building new or relocating existing farmers markets on residential housing values, alongside the benefits of improved access to high-quality food sources.https://www.cambridge.org/core/product/identifier/S1068280524000017/type/journal_articleExternalityfarmers marketspatial hedonic pricing modelwillingness to payD12R30 |
| spellingShingle | Yanan Zheng Meng Yang Henry An Feng Qiu Do people value farmers markets: A spatial hedonic pricing model approach Agricultural and Resource Economics Review Externality farmers market spatial hedonic pricing model willingness to pay D12 R30 |
| title | Do people value farmers markets: A spatial hedonic pricing model approach |
| title_full | Do people value farmers markets: A spatial hedonic pricing model approach |
| title_fullStr | Do people value farmers markets: A spatial hedonic pricing model approach |
| title_full_unstemmed | Do people value farmers markets: A spatial hedonic pricing model approach |
| title_short | Do people value farmers markets: A spatial hedonic pricing model approach |
| title_sort | do people value farmers markets a spatial hedonic pricing model approach |
| topic | Externality farmers market spatial hedonic pricing model willingness to pay D12 R30 |
| url | https://www.cambridge.org/core/product/identifier/S1068280524000017/type/journal_article |
| work_keys_str_mv | AT yananzheng dopeoplevaluefarmersmarketsaspatialhedonicpricingmodelapproach AT mengyang dopeoplevaluefarmersmarketsaspatialhedonicpricingmodelapproach AT henryan dopeoplevaluefarmersmarketsaspatialhedonicpricingmodelapproach AT fengqiu dopeoplevaluefarmersmarketsaspatialhedonicpricingmodelapproach |