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1 results

  • Do people value farmers markets: A spatial hedonic pricing model approach

  • Yanan Zheng, Meng Yang, Henry An, Feng Qiu
  • Journal:
    Agricultural and Resource Economics Review / Volume 53 / Issue 2 / August 2024
    Published online by Cambridge University Press:
    14 February 2024, pp. 277-297
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  • Farmers markets can generate positive externalities by improving food access and negative externalities through pollution. The presence of both may influence people’s willingness to pay (WTP) for living nearby. This study employs spatial hedonic pricing models to estimate the WTP for living near farmers markets in Edmonton, Canada. We find an inverted U-shaped relationship between proximity to a farmers market and property values. Our results suggest that local governments might consider the economic impact of building new or relocating existing farmers markets on residential housing values, alongside the benefits of improved access to high-quality food sources.