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Economic Values of Riparian Corridors
Urban populations value different types of natural amenities, such as parks, golf courses, wetlands, and river corridors. However, the particular valued features of natural amenities remain unclear. This research developed and used a novel set of data on amenity characteristics to identify what features contribute to value. Topics explored in the research included 1) how homebuyers valued manmade recreation environments, and 2) whether homebuyers valued the condition of the vegetation in their nearest riparian corridor or are indifferent to quality differentials in natural environments.
The effect of riparian corridors and parcel greenness on house prices in Tucson, Arizona was determined by using remote sensing vegetation indices. The results of the hedonic property price analysis showed that vegetation vigor and percent ground cover (two characteristics measured by vegetation indices) were significant factors in explaining house price variation in Tucson.