Property Value Capitalization and Municipal Open Space Referenda
构建了土地保护需求理论，考虑设施创造和住房供给限制的价格效应，通过计量分析发现部分开放空间需求动机非环境性，并讨论了效率与政策含义。
This paper first develops a theory of demand for land conservation in the presence of price effects due to both <i>amenity-creation</i> and housing <i>supply-restriction</i>. Three hypotheses designed to distinguish demand for amenities from homeowner rent-seeking are 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. <i></i>