Hedonic Analysis of Invasive Aquatic Plants on Property Values in Louisiana

Presentation Type

Oral Presentation

Conference Date

Spring 4-17-2026

Abstract

This study examines how invasive aquatic macrophytes affect lakefront residential property values across major Louisiana lakes over the period 2015–2025. The analysis employs a repeat sales methodology, which uses properties as their own controls by comparing successive transactions on the same parcel. This approach eliminates omitted variable bias stemming from unobserved, time-invariant property characteristics such as lot size, architectural style, and location quality that would otherwise confound a standard hedonic regression. Identification relies on within-property variation in both sale prices and lake coverage levels over time. Property transaction records from ATTOM Data Solutions are spatially matched to lake boundaries using GIS shapefiles, restricting the sample to properties within 1 to 3 miles of a lake's shoreline (multiple distances for sensitivity). Satellite-derived macrophyte coverage observations are then matched to each sale using several temporal windows including three- and six-month averages, peak coverage measures, and prior growing season averages to capture the coverage conditions buyers likely observed before purchasing. Regressions are estimated using property fixed effects alongside progressively restrictive temporal controls, culminating in year-quarter fixed effects that compare only properties sold during identical market conditions. This structure isolates the effect of vegetation coverage on transaction prices, providing empirically grounded estimates of how invasive aquatic plants degrade lakefront ecosystem services and their associated economic value.

Presenter

Garrett Wainright

Faculty Mentor

Jerrod Penn

Award

2nd Place, Oral Presentations - STEM Disciplines; Runner-Up, LSU E.J. Ourso College of Business

Academic Major

Economics

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