We estimate the potential negative effects of underground natural gas storage on local residents using hedonic regression and a sample of Indiana properties transacted between 2004 and 2013. We find that underground natural gas storage activities significantly reduce property values. Property values increase by about 10 percent at a distance of 1 kilometer from a storage field. Each additional storage well and observation well located near a property reduces the property's value by about 0.43 percent and 2.64 percent, respectively. Our research sheds new light on a previously unexplored aspect of natural gas resource activities.

A growing number of hotels provide “green” lodging for travelers with strong environmental preferences. Twelve states have developed certification programs to regulate these claims. After describing the new market for green lodging, we use data on prices and amenities of “green” and “brown” hotels in Virginia to estimate a hedonic model of hotel room pricing. We find that travelers can expect to pay a significant premium for a standard room in a green hotel. An internal meta-analysis is used to evaluate the robustness of this result to subjective econometric modeling decisions. Our results indicate a premium between $9 and $26.

A hedonic framework is used to analyze selected attributes of Louisiana deer hunting leases that are hypothesized to be significant contributors to lease value. The flexible Box-Cox functional form is used in contrast to the often utilized linear regression specification. Additionally, the hypothesis of regional differences in slope coefficients of lease attributes is addressed. Results indicate that hunters in the two analyzed regions value lease attributes and services differently.

A characteristics model, which assumes goods generate a common set of attributes but no unique attribute, is described. The model yielded two equations which were estimated. One was a set of hedonic price equations in which the price paid for each food purchased was a function of imputed attribute prices. This set of equations was estimated at the household level. Nutrient demand equations were estimated across households. Imputed prices, income, and household characteristics including location, size, education, age distribution, and race affected nutrient demand levels.

Few studies have examined the impacts of ground water quality on residential property values. Using a unique data set of well tests, we link residential real estate transactions to home-specific contamination and conduct a hedonic analysis of sales in Lake County, Florida, where pollution concerns relate primarily to agricultural run-off. We find that recent testing and contamination of ground water there correspond to a 2–6 percent depreciation in home values, an effect that diminishes over time. Focusing on nitrogen-based contamination, we find that prices decline mainly when concentrations exceed the regulatory health standard, suggesting as much as a 15 percent depreciation at levels twice the standard.

The objective of this research is to determine the marginal value of attributes to consumers with respect to natural beef or beef produced with organic grains. A hedonic model is used to value attributes of 11 different primal cuts. Results suggest that producers under this particular natural/implant-free marketing alliance should market high-yielding animals rather than high-quality grading animals. Consumers of this beef value taste, as measured by dry aging, and leanness, as measured by USDA Select grade. The economic magnitudes of the variables under a producer's control were small relative to those that could be controlled by a processor.

Consumers' willingness to pay for natural Christmas tree characteristics are estimated. Differences in willingness to pay for characteristics by specie knowledge and lack of specie knowledge are tested. Differences in willingness to pay for characteristics by specie are also tested. The results suggests that willingness to pay measures differ by these separations of the sample and, ceteris paribus, sellers of natural Christmas trees could benefit by altering characteristics in accordance with the results of these sample separation tests.

Efficient allocation of water requires knowledge of water's value in both consumptive and nonconsumptive uses. This study estimates the marginal value of water in lake recreational and aesthetic (RA) use. An hedonic price equation (employing the Box-Cox functional form) indicates lake front location, distance to lake, and scenic view are significant RA characteristics of housing. Water front properties command a premium price for the private access they offer. Beyond the water front, the marginal RA price falls rapidly with increasing distance, becoming asymptotic to some minimum. Twenty-two percent of housing price is found to be attributable to the RA component.

As a result of several judicial rulings, processing of horses for human consumption came to a halt in 2007. This article determines the change in horse prices resulting from elimination of horse-processing facilities. As expected, lower-valued horses were more affected by the ban than higher-valued horses. The analysis suggests the slaughter ban reduced horse prices, on average, by about 13% and resulted in a loss in producer surplus to sellers of approximately 14% at the sale we analyzed. We also show horse prices are affected by a myriad of factors including breed, gender, age, coat color, and sale catalog description.

Using Missouri Show-Me-Select Replacement Heifers Inc. sale data, this article uses hedonic modeling to assess the marginal implicit values of physical and genetic characteristics, expected performance characteristics of calves, and market factors to bred heifer price. In 2008, a higher quality standard, known as Tier II, was created combining minimum expected progeny difference (EPD) accuracies for a heifer's sire with previous heifer standards. Heifer characteristics and market factors as well as yearling and carcass weight EPDs were found to significantly influence heifer price. Results suggest that Tier II heifers receive a premium compared with traditional Show-Me-Select heifers.

This study estimates the cost of the Vietnam draft by applying hedonic methods to the decision to attend college and the decision to voluntarily enlist. In 2009 dollars, the estimated cost of the draft is roughly $115,000 for the marginal military recruit. For the marginal college student, the estimated cost is only $30,000 and probably understates the true amount because men were credit-constrained and college required an upfront cost. Supposing that the costs other than fatality risk were positive, our preferred specifications produce an upper bound on the Value of a Statistical Life ranging from $7 million to $12 million.