Estimating Irrigation Water Value Using Hedonic Price Analysis: A Case Study in Malheur County, Oregon
通过分析农业土地销售数据，揭示灌溉水的隐性市场价格，为水资源重新分配提供价格信息，并发现忽略土壤质量会导致错误结论。
Hedonic price analysis is applied to agricultural land sales to reveal the implicit market price of water in irrigation. This provides price information, where otherwise absent, which can facilitate reallocation of water supplies to meet growing demands. The failure to include available information on soil quality, an important determinant of agricultural land value, results in erroneous conclusions. Joint testing of heteroskedasticity and functional form is demonstrated. The value of irrigation water in this location is estimated at $9 for an acre-foot on the least productive land irrigated, and up to $44 per acre-foot on the most productive land.