This paper investigates how the hedonic equilibrium is modified when discrete consumer heterogeneity with horizontal differentiated housing supply is assumed. Our results are threefold. First, discrete consumer heterogeneity leads to a segmentation of the hedonic price function at equilibrium...

The presence of lead paint significantly impairs cognitive and behavioral development, yet little is known about the value to households of avoiding this residence-specific environmental health risk. In this paper, we estimate the benefits of lead-paint remediation on housing prices. Using data...

The article highlights the role of heterogeneity in the formation of hedonic prices. The article distinguishes between continuous and groupwise heterogeneity. The distinction helps understanding two important points. First, the analysis of market equilibrium with groupwise heterogeneity makes...

This paper investigates how the hedonic equilibrium is modified when discrete consumer heterogeneity with horizontal differentiated housing supply is assumed. Our results are threefold. First, discrete consumer heterogeneity leads to a segmentation of the hedonic price function at equilibrium...

The presence of lead paint significantly impairs cognitive and behavioral development, yet little is known about the value to households of avoiding this residence-specific environmental health risk. In this paper, we estimate the benefits of lead-paint remediation on housing prices. Using data...

The presence of lead paint significantly impairs cognitive and behavioral development, yet little is known about how this residence-specific environmental health risk affects property values. In this paper, we estimate the benefits of lead-paint remediation on housing prices. Using data on all...

The hedonics literature has often asserted that if one were able to observe the same individual make multiple purchase decisions, one could recover rich estimates of preferences for a given amenity. In particular, in the face of a changing price schedule, observing each individual twice is...

The willingness of households to pay for prevention against industrial risks can be revealed by real estate markets. By using very rich microdata, we study housing prices in the vicinity of hazardous industries near three important French cities. We show that the impact of hazardous plants on...

This paper explores the use of remote sensing techniques and hedonic pricing methods for the valuation of urban green amenities and in particular street trees. The classification and study of these amenities in an urban area is challenged by the high level of spatially detailed data required....

We build on the intuitive (static) modeling framework of Rosen (1974) and specify a simple forward-looking model of location choice. We use this model, along with a series of insightful graphs, to describe the potential biases associated with the static approach and relate these biases to the...