Home > Explore Content > All Issues > Article View
An Estimation of the Value of Urban Leisure Places by the Hedonic Price Model: Focused on Parks in Daegu
Journal of Tourism Sciences
Abbr :
JTS
2007, 31(1), pp.267-288
Publisher : The Tourism Sciences Society Of Korea
Research Area : Tourism
2007, 31(1), pp.267-288
Publisher : The Tourism Sciences Society Of Korea
Research Area : Tourism
-
This study is to valuate urban parks using hedonic pricing method. The study was conducted on Daegu metropolitan city. Among types of residential buildings in Daegu, apartments were established as a population, and an empirical analysis was conducted to randomly selected 300 apartments. To calculate the amount of WTP(willingness to pay) for the parks, the marginal implicit price of the parks was calculated through partial differential in the hedonic price function. This marginal implicit price means WTP in case a park environment varies to another level and its figure was 0.04105P where P is price of apartment per 'pyeong'. According to the analysis, people were found intended to pay about more than 4.1% of the apartment price additionally when the park environment become bettered 1 unit additionally.핵심용어(Key words):여가공간(leisure place), 공원녹지(park), 헤도닉가격모형(hedonic price model)
231 Viewed
Print this page
Search PDF