Hedonic Prices and the Benefits of Public Projects
When lot side is endogenous, hedonic prices do not provide a correct benefit measure of a large public project even if population is homogeneous. Except for some polar cases where they yield correct estimates, the use of hedonic prices results in over-estimation. The results are extended to cases of heterogeneous populations. The short-run benefits with fixed lot size are also examined.
Year of publication: |
1985
|
---|---|
Authors: | Kanemoto, Yoshitsugu |
Institutions: | Economics Department, Queen's University |
Saved in:
Saved in favorites
Similar items by person
-
Optimal Cities with Indivisibility in Production and Interactions Between Firms
Kanemoto, Yoshitsugu, (1985)
-
Formation of Convoys, Tennis Ladders, Colleges and Related Groups
Hartwick, John, (1985)
-
The Theory of Contracts and Labor Practices in Japan and the United States
Kanemoto, Yoshitsugu, (1988)
- More ...