Implicit Value of Urban Tree Cover: An Internal Meta -Analysis

30 Pages Posted: 2 Jan 2024

See all articles by Kevin J Boyle

Kevin J Boyle

Virginia Tech

Shyamani Siriwardena

affiliation not provided to SSRN

Thomas Holmes

affiliation not provided to SSRN

Abstract

Estimates of homeowners’ preferences for tree cover from previous hedonic studies vary spatially across studies. These studies used various data and estimation methods, which make it difficult to generalize whether differences are due to actual differences in preferences or due to differences in data and estimation approaches. We extended the hedonic analysis to value tree cover in multiple cities in the U.S. using high resolution spatial data. We applied consistent data and estimation methods across study locations and systematically summarized the results via an internal meta-analysis. Study results provide robust evidence for spatially varying preferences of homeowners for the tree cover in the urban residential areas. Within communities, the results indicate that homeowners value tree cover that is located on others property more than tree cover on their own property, which poses an important public good, community challenge that can result in under investment in tree cover. In addition, the results suggest that areas with more rainfall and higher temperatures are less likely to have positive implicit prices. This is an important consideration as climate change brings higher temperatures and more severe storms that pose greater risks of forest fires and falling limbs/trees that can affect residential properties.

Keywords: Hedonic valuation, urban tree cover, implicit price, internal meta-analysis

Suggested Citation

Boyle, Kevin J and Siriwardena, Shyamani and Holmes, Thomas, Implicit Value of Urban Tree Cover: An Internal Meta -Analysis. Available at SSRN: https://ssrn.com/abstract=4681507 or http://dx.doi.org/10.2139/ssrn.4681507

Kevin J Boyle (Contact Author)

Virginia Tech ( email )

250 Drillfield Drive
Blacksburg, VA 24061
United States

Shyamani Siriwardena

affiliation not provided to SSRN ( email )

No Address Available

Thomas Holmes

affiliation not provided to SSRN ( email )

No Address Available

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