Factors Influencing Convergence of Survey and Market-Based Values of an Environmental Disamenity

A database is used that combines survey and real estate data to obtain willingness to pay (WTP) measures to avoid living in proximity to a landfill. Convergence of market-based measures from a hedonic price model and hypothetical measures from contingent valuation is investigated at the level of individual respondent, using a ratio of the two measures within a sample selection framework. The sample mechanism is based on zero vs. positive stated WTP. The impact of a variety of attitudinal and demographic characteristics is investigated