This paper specified a hedonic price equation for marinas, which enabled the analysis of the impact of services, location, neighborhood, water quality, accessibility, and structure on marina pricing decisions. The coefficients of these various characteristics are interpreted as the implicit prices of these characteristics assuming the boater has sufficient choices. / For choice of functional form a Box-Cox model was estimated using a maximum likelihood algorithm. A log likelihood test was utilized to indicate that the Box-Cox model was superior to the alternative functional forms of linear, semi-log, and log-log. A test for market segmentation using a F-test for reduction of sum of squared residuals indicated no separation between new marinas (less than or equal to 15 years) and old marinas. A Reset test using a F statistic indicated no bias in the parameter estimates due to omitted variables, incorrect functional form or simultaneity. / Variables which are important in the determination of wet slip prices include age, draft, total slips, ocean location, availability of telephone, and location in region ten, all of which were positively related to wet slip fees. The number of ramps and marinas located in regions three or seven, were significant variables negatively related to wet slip fees. The model was unable to give a significant measure of the boater's willingness to pay for improved water quality. / The model was used to illustrate how a change in a particular characteristic will affect the taxable value for a particular marina. Practical applications include use by marina investors, investment lenders, and appraisers. The model estimated can also aid in the determination of an equitable fee system for marinas leasing state submerged lands. A fee, based on the estimated yearly effective gross income, commensurate with a marinas location as well as structural and amenity characteristics can be calculated. / Source: Dissertation Abstracts International, Volume: 51-04, Section: A, page: 1321. / Major Professor: Frederick W. Bell. / Thesis (Ph.D.)--The Florida State University, 1990.
| Identifer | oai:union.ndltd.org:fsu.edu/oai:fsu.digital.flvc.org:fsu_78224 |
| Contributors | Pompe, Jeffrey., Florida State University |
| Source Sets | Florida State University |
| Language | English |
| Detected Language | English |
| Type | Text |
| Format | 156 p. |
| Rights | On campus use only. |
| Relation | Dissertation Abstracts International |
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