The purpose of this paper is to report a new approach for measuring the general equilibrium willingness to pay for large changes in spatially delineated public goods such as air quality. We estimate the parameters of a locational equilibrium model and compute equilibria for alternative scenarios...

This paper demonstrates how a new framework, using the necessary conditions for a locational equilibrium, offers the potential to transform this policy landscape. We demonstrate in this paper that the framework can be used as part of a benefit analysis of current environmental policy...