Disentangling Access and View Amenities in Access-Restricted Coastal Residential Communities

Abstract

In coastal communities with uniform flood risk, amenity value is comprised of two components – view and access. Having controlled for view, it is assumed that any residual amenity value represents the benefit derived from accessing the beach for leisure/recreational purposes. However, as properties closer to the beach typically have improved viewsheds, the two amenities are highly correlated, and disentangling view and access is problematical. A spatial autoregressive hedonic model captures ease of beach access via a network distance parameter that varies independently from property viewshed, collinearity effects are mitigated, and access and view can be disentangled.beach access, property viewshed, spatial hedonic model, willingness to pay, Environmental Economics and Policy, Land Economics/Use, Q51, R12, R21, R23,