The Impact of Environmental Amenities on Residential Development and Decision Making
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The following research focuses on environmental amenities and decision making. The first two chapters relate to the impact of open spaces and neighboring houses on real estate market and residential development pattern in Kittitas County, Central Washington. Kittitas County has an abundance of environmental amenities, which offers outdoor activities and attract individuals to migrate into the area. Examining individuals’ value toward open spaces through property prices and analyzing the residential development pattern help the government form the policy that prevent these rural areas with open spaces from overdevelopment. The third chapter relates to decision making on the precaution level invested by the firm to prevent environmental damages and judge’s decision on punitive damages punishment following the damages. By analyzing the interaction between the firm and the judge, it helps the judge choose the appropriate level of punishment in order to encourage the firm to invest in a proper precaution level.