Factors Determining Per Acre Market Value Of Hunting Leases On Sixteenth Section Lands In Mississippi
Rhyne, Jacob Daniel
Valuation of leases based on the contingent valuation may be biased because hypothetical data has limitations. This study used the hedonic method to evaluate factors affecting the value of hunting leases on Sixteenth Section Lands in Mississippi that are auctioned to the public. Due to the competitive nature of the issuance of these leases, this study provides a comprehensive and unbiased estimate of the impact that cover type, game quality, distance to urban areas, and location have on hunting lease prices. The implicit prices of these characteristics indicate that land managers should adopt shorter lease lengths, smaller lease sizes and improve habitat to increase lease revenue.