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Title Income value of private amenities assessed in California oak woodlands
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Abstract Landowners in California were surveyed using a contingent valuation technique to assess its usefulness in estimating the monetary income value of private amenities from their oak woodland properties. Private amenities — such as recreation, scenic beauty and a rural lifestyle — are considered an important influence on rangeland owners, but few studies have attempted to place a monetary income value on them. Landowners were asked to estimate the maximum amount of earnings that they were willing to forgo before selling their property to invest in more commercially profitable, nonagrarian assets, and the proportion of the land price that they thought was explained by private amenities from their land. On average, landowners were willing to pay $54 per acre annually for private amenities, and they attributed 57% of the land price to them. Regression analysis revealed that the landowners’ willingness to pay per acre decreased as property size increased. This approach sheds light on how landowners value the benefits of land owner-ship and offers insights for outreach and policy development for privately owned oak woodlands.

Authors
Oviedo, Jose L. : J.L. Oviedo is Associate Research Professor, Institute of Public Goods and Policies, Spanish National Research Council, Madrid, Spain
Huntsinger Dr, Lynn
Professor and Associate Dean of Instruction & Student Affairs
Rangeland management and ecology, Native American natural resource management, pastoralism, culture and natural resources
Campos, Pablo : P. Campos is Research Professor, Institute of Public Goods and Policies, Spanish National Research Council, Madrid, Spain.
Caparrós, Alejandro : A. Caparrós is Associate Research Professor, Institute of Public Goods and Policies, Spanish National Research Council, Madrid, Spain.
Publication Date Jul 1, 2012
Date Added Jul 16, 2012
Copyright © The Regents of the University of California
Copyright Year 2012
Description

In a survey, landowners were asked to place a monetary value on amenities using a contingent valuation method; willingness to maintain amenity values did not require a large property.

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