Valuing Urban Green Space: Hypothetical Alternatives and the Status Quo

Abstract

Although many cities have guidelines on the quantity of green open space that should accompany residential development, there is less guidance on the type or facilities of these spaces. The study uses an approach to determine whether green space can be valued on the basis of its constituent characteristics and, if so, what characteristics are preferred. The results indicate that preferences vary depending on whether the green space in question is a small local park or a larger municipal park. However, where a base alternative of usual park destination is included in the analysis, the results are affected by collinearity and the actual availability of relevant green space attributes in these destinations. A mixed logit approach is used to tease out this effect from the underlying preference values.