http://jse.sagepub.com/cgi/content/abstract/11/3/261
The analysis uses an exhaustive golf course database that contains over 100 golf course variables on more than 15,000 golf courses in the United States combined with data from the Audubon International Cooperative Sanctuary Program to examine the market setting of environmental certification on golf courses. Using the Rosen (1974) two-stage estimation technique, quality-adjusted structural demand and supply equations for golf are estimated. A standard hedonic pricing model shows a substantial price premium for environmentally certified Audubon International golf courses. Additional results suggest that the increase in marginal benefits of certification is approximately equal to the increase in marginal costs.
by Frank F. Limehouse 1, Peter C. Melvin 2 and Robert E. McCormick 3
1. Chicago Census Research Data Center and DePaul University, flimehouse@frbchi.org
2. Ernst and Young LLP
3. Clemson University
Journal of Sports Economics via Sage Journals http://jse.sagepub.com
Volume 11, Number 3; June, 2010; pages 261-286
DOI: 10.1177/1527002509337801
Editors note/cheap shot: Because sufficient data also appears to be available researchers may wish to conduct a hedonic psychometric analysis of one golfer’s preferences for a different set of traits.
Original post blogged on b2evolution.
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