Golf Courses In Maine: Land Type Valuation versus a Hedonic Pricing Analysis

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Journal of Environmental and Resource Economics at Colby, Vol: 2, Issue: 1, Page: 170

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Ladd, Gregory; Buco, Jason
Agricultural and Resource Economics; Agricultural Economics; Biodiversity; Economics; Environmental Health; Forest Management; Natural Resource Economics; Natural Resources and Conservation; Oil, Gas, and Energy; Sustainability; Water Resource Management
article description
Many studies have been conducted analyzing the economic impact of golf courses on the local communities. These studies examine economic impacts of tournaments, endorsements, and vacation expenses of the major golf courses in the United States. However, there is little research conducted on the environmental impact of Golf courses, specifically in Maine. This paper performs a hedonic pricing analysis using housing prices in proximity to golf courses and compares it to the valuation of various land types in Maine. Housing prices were collected in the towns of Auburn, and North Yarmouth both near and distant from the local golf course. A contingent valuation method using data from similar land areas is used to estimate the per acre value of all land types in Maine.