Abstract
The amenity value of two measures of rainfall are investigated in this study: long term average annual rainfall and the variation in rainfall within the year. Estimates of the economic value of rainfall and variation in rainfall are found using the hedonic property value technique. The results indicate that rainfall is an attribute for which the distribution as well as the average annual level is important. Home buyers prefer less annual rainfall, but, holding annual rainfall constant, buyers will also pay more for greater seasonal variation in rainfall.
| Original language | English (US) |
|---|---|
| Pages (from-to) | 273-283 |
| Number of pages | 11 |
| Journal | Annals of Regional Science |
| Volume | 30 |
| Issue number | 3 |
| DOIs | |
| State | Published - Sep 1996 |
| Externally published | Yes |
ASJC Scopus subject areas
- General Environmental Science
- General Social Sciences