The Economic Value of Coastal Amenities: Evidence from Beach Capitalization Effects in Peer-to-Peer Markets.

IF 3.2 3区经济学 Q1 ECONOMICS Environmental & Resource Economics Pub Date : 2023-01-01 DOI:10.1007/s10640-022-00735-5

David Boto-García, Veronica Leoni

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Abstract

Coastal amenities are public goods that represent an important attraction for tourism activities. This paper studies the capitalization effects of beach characteristics using hedonic pricing methods. We examine the implicit economic value of several beach characteristics like sand type, width, longitude, accessibility, or frontage in the Airbnb rental market. Using data for 16,663 Airbnb listings located in 67 municipalities of the Balearic Islands (Spain) during the summer of 2016, together with detailed information about the attributes of 263 beaches, our modelling approach considers interaction terms between the beach amenities and distance to the closest beach. Controlling for a set of listings' structural characteristics, host attributes and municipality fixed effects, we find that Airbnb guests attach economic value to beach length, the presence of vegetation, the type of coastal frontage and beach accessibility and exclusivity. However, there is no evidence of capitalization effects associated with beach width or the type of sand.

Supplementary information: The online version contains supplementary material available at 10.1007/s10640-022-00735-5.

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沿海便利设施的经济价值:来自点对点市场中海滩资本化效应的证据。

海岸设施是公共产品，是旅游活动的重要吸引力。本文运用享乐定价方法研究了海滩特征的资本化效应。我们研究了几个海滩特征的隐含经济价值，如沙滩类型，宽度，经度，可达性，或在Airbnb租赁市场的正面。利用2016年夏天巴利阿里群岛(西班牙)67个城市的16,663个Airbnb房源的数据，以及263个海滩属性的详细信息，我们的建模方法考虑了海滩设施和到最近海滩的距离之间的相互作用。控制了一组房源的结构特征、房东属性和市政固定效应，我们发现Airbnb的客人将经济价值附加到海滩长度、植被的存在、海滨的类型以及海滩的可达性和排他性上。然而，没有证据表明资本化效应与海滩宽度或沙子类型有关。补充信息:在线版本包含补充资料，可在10.1007/s10640-022-00735-5获得。

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来源期刊

Environmental & Resource Economics Multiple-

CiteScore

10.20

自引率

3.40%

发文量

100

期刊介绍： The primary concern of Environmental & Resource Economics (ERE) is the application of economic theory and methods to environmental issues and problems that require detailed analysis in order to improve management strategies. The contemporary environmental debate is in a constant state of flux and new or relatively unexplored topics are continually emerging. The Journal provides a forum for the further exploration of the causes, consequences and policy responses linked to these topics, across a range of spatial and temporal scales up to the global dimension. Contributions to the Journal should directly or indirectly be relevant to the policy formulation and application process. Areas of particular interest include: evaluation and development of instruments of environmental policy; cost-benefit and cost effectiveness analysis; sectoral environmental policy impact analysis; modelling and simulation; institutional arrangements; resource pricing and the valuation of environmental goods; environmental quality indicators. The editors wish to encourage a pluralistic approach to both theoretical and applied contributions. The publication of empirically based, policy-oriented research is given a high priority in the Journal in order to further critical discussion. Environmental & Resource Economics will also accept papers with an interdisciplinary approach, where this helps to improve knowledge of the real world complexities present, provided that the analysis retains links to or components of economic thinking. The Journal is required reading for economists, economic geographers and other academics, professionals and officials with a working interest in environmental matters.