They suggest that landowners, wage earners, college graduates, and those who value the County s rural community lifestyle support public management strategies. Well-established residents and those with economic reasons for living in the County support private management strategies. Bastian, C., D. McLeod, M. Germino, W. Reiners and B. Blasko. A hedonic price model is specified with GIS measures. It is used to estimate the impact of amenity and agricultural production land characteristics on price per acre for a sample of Wyoming agricultural parcels.
Results indicate that the specification performed well across several functional forms.
The sampled land prices are explained by the level of both environmental amenities as well as production attributes. Statistically significant amenity variables included scenic view, elk habitat, sport fishery productivity and distance to town. This analysis permits a better understanding of rural land markets. Bastian, C., D. McLeod, M. Germino, W. Reiners and B. Blasko. Land values are correlated with the environmental and visual amenity measurements as well as production attributes, suggesting the potential for using GIS to quantify traditionally less quantifiable attributes.