The implicit market price of soil erosion: An estimation using a hedonic model with spatial spillovers

IF 4.5 3区经济学 Q1 AGRICULTURAL ECONOMICS & POLICY Agricultural Economics Pub Date : 2024-10-01 DOI:10.1111/agec.12857

Marcelo Caffera, Felipe Vásquez Lavín, Manuel Barrientos, Daniel Rodríguez Anza, Leonidas Carrasco-Letelier

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Abstract

We estimate the implicit market price of soil erosion using quarterly data of 2824 agricultural farms traded in Uruguay between 2000 and 2014. A unique feature of our estimation is that we allow for possible spatial spillovers. We find evidence of a negative and statistically significant association between erosion and land values. On average, an additional loss of 1% of the original topsoil due to erosion is associated with a direct (own) decrease of .24% in the per-hectare price of agricultural land (P-value: .012, 95% CI: −.0042, −.0005). In 2023 dollars, this is equivalent to a decrease of USD 8.7 in the average price per hectare, or USD 1130 in the price of the average farm. In terms of tons of soil, the average value is $.24 a ton. Finally, considering the 50 km radius of our spatial model, the value of losing 1% of topsoil is $15.8 million. The value of our estimates is sensitive to our measure of erosion and our specification of the spatial-temporal weighting matrix, but the statistical association is robust.

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土壤侵蚀的隐性市场价格：利用具有空间溢出效应的保值模型进行估算

我们利用 2000 年至 2014 年期间乌拉圭 2824 个农业农场的季度交易数据估算了土壤侵蚀的隐含市场价格。我们估算的一个独特之处是考虑到了可能的空间溢出效应。我们发现的证据表明，土壤侵蚀与土地价值之间存在负相关，且在统计上具有显著意义。平均而言，水土流失导致原有表土每增加 1%，农用土地的每公顷价格就会直接（自身）下降 0.24%（P 值：0.012，95% CI：-.0042, -.0005）。以 2023 年的美元计算，这相当于每公顷平均价格降低 8.7 美元，或平均农场价格降低 1130 美元。以吨土壤计算，平均价值为每吨 0.24 美元。最后，考虑到我们的空间模型半径为 50 公里，损失 1%表土的价值为 1,580 万美元。我们的估算值对水土流失的衡量标准和时空加权矩阵的规格很敏感，但统计关联性很强。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Agricultural Economics 管理科学-农业经济与政策

CiteScore

7.30

自引率

4.90%

发文量

审稿时长

3 months

期刊介绍： Agricultural Economics aims to disseminate the most important research results and policy analyses in our discipline, from all regions of the world. Topical coverage ranges from consumption and nutrition to land use and the environment, at every scale of analysis from households to markets and the macro-economy. Applicable methodologies include econometric estimation and statistical hypothesis testing, optimization and simulation models, descriptive reviews and policy analyses. We particularly encourage submission of empirical work that can be replicated and tested by others.