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Property Value Capitalization and Municipal OpenSpace Referenda

机译:财产价值资本化和市政开放空间公投

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摘要

This paper first develops a theory of demand for land conservation in the presence of price effects due to both amenity-creation and housing supply-restriction. Three hypotheses designed to distinguish demand for amenities from homeowner rent-seekingare based upon (1) renters, (2) the quality of another locally provided good, schools, and (3) spatial autocorrelation of funding across municipalities. Econometric results suggest an observable degree of demand for open space measures is nonenvironmental in motivation. Efficiency and policy implications are discussed, along with a recommendation for benefit-cost analysis capable of separating nonrival amenities from other interests to certify open space measures.
机译:本文首先提出了一种由于便利设施建设和住房供应限制而存在价格效应的土地保护需求理论。基于(1)房客,(2)另一本地提供的商品,学校的质量以及(3)市政资金的空间自相关性,旨在区分对设施需求和房主寻求租金的三个假设。计量经济学结果表明,对开放空间措施的需求可观察到的程度与动机无关。讨论了效率和政策含义,以及对利益成本分析的建议,该建议能够将非竞争性便利设施与其他利益区分开来,以证明开放空间措施。

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