Valuation of aesthetic amenities with landsat data
Purvis, Jack Andrew
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Using landsat data provided from three Georgia counties, hedonic modeling was performed to determine the monetary contribution to property values by land cover. The focus of analysis is directed toward Canopy and Impervious categories. Focal means are calculated at different ranges for immediate and neighborhood-wide assessment of surrounding cover. Layout variables designed to describe neighborhood composition are included. Neighbor Size, the measure of average size and Nearest Neighbor, the average distance between nearby homes, are calculated at same neighborhood ranges as Focal means. Regressors also include distances to Schools, Hospitals, Airports, and Highways. Pooled Ordinary Least Squares performed with data normalized by log-transformation yields practical, statistically significant results. Consistency of estimates among counties provides assurance of model viability, while variety is still strong between all counties.