Title page for ETD etd-05152015-141837


Type of Document Dissertation
Author Savolainen, Michelle A.
Author's Email Address msavolainen@agcenter.lsu.edu
URN etd-05152015-141837
Title A Market-Based Approach for Valuing Ecosystem Services on Coastal Properties
Degree Doctor of Philosophy (Ph.D.)
Department Agricultural Economics
Advisory Committee
Advisor Name Title
Kazmierczak, Richard F., Jr. Committee Chair
Caffey, Rex H. Committee Member
Keithly, Walter R., Jr. Committee Member
Nyman, John Andrew Dean's Representative
Keywords
  • hedonic analysis
  • wetlands
  • ecosystem services
Date of Defense 2015-03-19
Availability unrestricted
Abstract
As part of ongoing efforts to assess ecosystem services provided by wetlands, this research focuses on estimating the private monetary value of wetland services to residential property owners in Louisiana and Alabama using a hedonic price model. Understanding that tradeoffs must be made with limited resources, valuing ecosystem services is important for policy and decision making purposes, such as determining how much public and private financial resources should be put towards wetland maintenance and restoration. Data on property transactions, wetland coverage, and built infrastructure were collected for the analysis. Based on theory and results from a Box-Cox model, the log-linear functional form was the best fit for the data. Marginal implicit prices of services from wetland ecosystems were estimated using proximity variables. Most wetland proximity variables were statistically significant and indicative of preferences for different wetland types. Based on coefficient estimates, freshwater ponds were the only preferred wetland ecosystems to live in closer proximity to in Louisiana, while freshwater emergent wetlands were the only preferred wetland ecosystems in Alabama. Homeowners preferred living further from rivers in both Louisiana and Alabama. Results are consistent with the wetland service valuation literature from across the United States which used the property-price hedonic approach.
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