A Hedonic Analysis of the Impact of Marine Aquaculture on Coastal Housing Prices in Maine. (25th July 2017)

• Record Type: Journal Article
• Authors: Evans, Keith S.; Chen, Xuan; Robichaud, Christina A.
• Editors: Teisl, Mario F.; Bell, Kathleen P.; Noblet, Caroline L.
• Is Part Of: Agricultural and resource economics review. Volume 46:Number 2(2017)
• Page Start: 242
• Page End: 267
• Publication Date: 2017-07-25
• Subjects: coastal waters, -- hedonic pricing model, -- marine aquaculture, -- mariculture, -- property values; Sustainable agriculture -- Periodicals; Sustainable agriculture -- United States -- Periodicals; Natural resources -- Periodicals; Agriculture -- Economic aspects -- Periodicals; Rural development -- Periodicals; 338.10974
• DOI: 10.1017/age.2017.19
• Languages: English
• ISSNs: 1068-2805

Abstract

Abstract : Converting coastal waters to farmed production of seafood may generate conflicts with other resource users. This study explores the impact of marine aquaculture development on coastal homeowners. Using single-family home sales from 2012–2014 and spatial data on coastal aquaculture activity, we employ hedonics to assess the impacts of mariculture development in three study areas of Maine, USA. Our results suggest modest impacts on residential property values with significant spatial variation across study areas. This spatial variation represents a challenge for managers and highlights the potential benefits from coordinating the development of aquaculture to balance resource users' objectives with industry growth.