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- Info
Estimating the benefits of urban stream restoration using the hedonic price method
| Author: |
Steiner, Carol F.; Loomis, John B. |
| Date: |
1995 |
| Periodical: |
Rivers |
| Abstract: |
The hedonic price method was used to estimate residents' willingness to pay for improvements in urban streams. This study examined California's Department of Water Resources Urban Stream Restoration Program to determine the economic value of stream restoration measures such as reducing flood damage and improving fish habitat. Seven projects from three counties= Contra Costa, Santa Cruz, and Solano-were pooled for analysis. Property prices in areas with restored streams were found to increase by $4,500 to $19,000 due to stabilizing streambanks and acquiring land for education trails. This represents from 3 to 13%0 of the mean property price in the study. Recommendations for facilitating further analysis are made and implications for quantifying the benefits of similar programs in other states are provided. |
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