The Value of Disappearing Beaches: A Hedonic Pricing Model with Endogenous Beach Width

Duke Environmental Economics Working Paper No. EE10-04

29 Pages Posted: 13 Sep 2011

See all articles by Sathya Gopalakrishnan

Sathya Gopalakrishnan

Duke University - Nicholas School of the Environment

Martin D. Smith

Duke University - Nicholas School of the Environment

Jordan Slott

Duke University

A. Brad Murray

Duke University

Date Written: September 1, 2010

Abstract

Beach nourishment is used to rebuild eroding beaches with sand dredged from other locations. Previous studies indicate that beach width positively affects coastal property values, but studies ignore the dynamic features of beaches and the feedback that nourishment has on shoreline retreat. This paper corrects for the resulting attenuation and endogeneity bias in a hedonic property value model by instrumenting for beach width using spatially varying coastal geological features.

Suggested Citation

Gopalakrishnan, Sathya and Smith, Martin D. and Slott, Jordan M. and Murray, A. Brad, The Value of Disappearing Beaches: A Hedonic Pricing Model with Endogenous Beach Width (September 1, 2010). Duke Environmental Economics Working Paper No. EE10-04, Available at SSRN: https://ssrn.com/abstract=1926468 or http://dx.doi.org/10.2139/ssrn.1926468

Sathya Gopalakrishnan (Contact Author)

Duke University - Nicholas School of the Environment ( email )

Box 90328
Durham, NC 27708-0328
United States

Martin D. Smith

Duke University - Nicholas School of the Environment ( email )

Box 90328
A122 LSRC
Durham, NC 27708-0328
United States
919-613-8028 (Phone)
919-684-8741 (Fax)

HOME PAGE: http://fds.duke.edu/db/Nicholas/esp/faculty/marsmith

Jordan M. Slott

Duke University ( email )

100 Fuqua Drive
Durham, NC 27708-0204
United States

A. Brad Murray

Duke University ( email )

100 Fuqua Drive
Durham, NC 27708-0204
United States

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