Abstract

This study investigates the economic value of Boston’s public beaches. Living closer to coastal amenities has typically provided a value premium for residential properties. However, sea level rise and coastal erosion puts ecosystem services in danger. This research uses the hedonic valuation method to assess whether Boston’s public marine beaches continue to provide a premium for nearby properties, or if climate change concerns have diminished this value. Using a comprehensive property-level dataset, sourced from Massachusetts state databases, the study reveals that home buyers are willing to pay an additional $576.8 for every meter closer to a public beach. However, properties that fall within FEMA-designated flood zones demand a discount of over $68,000. These findings indicate that consumers are both consciously appreciating the value of coastal ecosystems, while being risk adverse to climate change threats. This paper contributes to the broader understanding of ecosystem service valuation and offers insights for policy makers that seek to balance conservation with economic development.

Advisor

Ling Liu, Jancy

Department

Economics

Disciplines

Natural Resource Economics | Natural Resources Management and Policy

Keywords

Resource Economics, Ecosystem Valuation

Publication Date

2025

Degree Granted

Bachelor of Arts

Document Type

Senior Independent Study Thesis

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