Permalink : http://hdl.handle.net/2115/62810

The objective of this study is to measure the value of the agriculture as an environmental goods, especially the value of externality of farmland in the city area. Although the externality of farmland is not evaluated directly by a market, we can find it as the attributes of land which is priced in land market. Therefore, the spatial variation of land prices elucidate the evaluation of its externality on some conditions. In this study, hedonic price approach is applied to the measurement that how farmland is evaluated as green tract in Sapporo city area. First, we examine the capitalization hypothesis. Next, we build the hedonic price model, a dependent variable is land price for residence and independent variables are those represent the attributes of earch residental area including green tract, conveniences and environmetal factors. Our major conclusions are summarized as follows. 1. The evaluation of externality of farmland in city area is the same as the other green tract. 2. The evaluation of externality of land as green tract including agricultural land is negative, but the places with abundant in green tract are evaluated positive as same as convenience.