THE VALUE OF CLEAN DAIRY AIR: ACCOUNTING FOR ENDOGENEITY AND SPATIALLY CORRELATED ERRORS IN A HEDONIC ANALYSES OF THE IMPACT OF ANIMAL OPERATIONS ON LOCAL PROPERTY VALUES

We study the effect of livestock operations on property values using a hedonic analysis in five Ohio townships. Unlike previous studies, we account for endogenous livestock location variables and spatially correlated errors. Results suggest failure to correct for these problems results in biased estimates of livestock impacts on property values.