European Regional Science Association
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European Regional Science Association
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The abstract for paper number 139:
Dany Shefer, Facult of architecture and town planning and The Samuel Neeman Institute of advanced studies in science and technology, the Technion, Haifa, Israel, Nurit Zakai, Center for Urban and Regional Studies
Technion - Israel Institute of Technology, Haifa, Israel
Estimating the Socio-Economic Benefits of the Yarkon Park in Tel Aviv
The aim of this study is to contribute to the knowledge connected with valuing open spaces through a case study of the Yarkon Park in the city of Tel-Aviv using two methods: the Hedonic Price Method (HPM) and the Contingent Valuation Method (CVM). The values to be presented in this study as measures of the Yarkon Park are partial values only. The HPM showed that if we compare an apartment located at a distance of up to 100 meters from the Yarkon Park (in the study area which included only one neighborhood) with an apartment located at a distance of 100-1500 meters from the Park (in the study area), the former has a $136 per square meter higher value than the latter. The added total value from proximity to the Yarkon Park in the study area alone is $37 million. The CVM showed that the Willingness To Pay (WTP) a one time payment for the preservation of the park is NIS 514 per household. Expanded to the whole population visiting the park (about 220,000 households a year) gives a value of NIS 113 millions (about $30 millions). Jan. 2003
Unfortunately full paper has not been submitted.