Amenity Values versus Land Constraints: The Spatial Effects of Natural Landscape Features on Housing Values
研究了自然景观特征带来的舒适性价值与土地供应约束对住房市场的共同影响，发现水体保护和部分开放空间保护通过限制土地供应推高了房价，从而抵消了部分舒适性需求。
When local amenities are tied to natural land use features that cannot be developed for physical or regulatory reasons, the corresponding implicit price estimates from a hedonic housing model may reflect local supply constraints and confound estimation of natural amenity values. Using a spatial simultaneous equations model of housing values and migration, we examine whether local supply constraints from natural or preserved features have influenced the housing market. Results indicate that constraints associated with the presence of water bodies and some types of open space preservation have contributed to higher housing prices offsetting local demand for these natural amenities. <i></i>