Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/185904
Authors: 
Soguel, Nils
Martin, Marc-Jean
Tangerini, Alexandre
Year of Publication: 
2008
Citation: 
[Journal:] Swiss Journal of Economics and Statistics [ISSN:] 2235-6282 [Volume:] 144 [Year:] 2008 [Issue:] 4 [Pages:] 655-678
Abstract: 
Market segmentation is an important issue when estimating the implicit price for an environmental amenity from a surrogate market like property. This paper tests the hypothesis of a segmentation of the housing market between tourists and residents and computes the implicit price for natural landscape quality in Swiss alpine resorts. The results show a clear segmentation between both groups of consumers, although tests also show that the estimated coefficient for landscape is similar in the tourists’ model and in the residents’. However, since the functional form is non linear, the nominal – rather than relative - value of a change in natural landscape quality is higher in the tourist housing market than in the residents’. Hence, considering the segmentation of the market between tourists and residents is essential in order to provide valid estimates of the nominal implicit price of natural landscape quality.
Subjects: 
Hedonic prices method
Market segmentation
Landscape quality
Landscape value
MACBETH
JEL: 
D49
Q26
Q51
Persistent Identifier of the first edition: 
Creative Commons License: 
https://creativecommons.org/licenses/by/4.0/
Document Type: 
Article

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