Estimating the benefits of environmental regulations can be very difficult. Since environmental goods are generally not traded in markets, prices and quantities are not directly observed. However, researchers can used revealed preference techniques to uncover the prices individuals implicitly...

Federal, state and local wetlands protection laws that restrict landowners’ ability to develop their properties in certain ways could decrease the value of the affected properties. However, the regulations could also give benefits to nearby neighbors who no longer need worry about increased...

Estimating the benefits of environmental regulations can be very difficult. Since environmental goods are generally not traded in markets, prices and quantities are not directly observed. However, researchers can used revealed preference techniques to uncover the prices individuals implicitly...

In order to be correctly specified, an hedonic model must include all the relevant housing, neighborhood, and environmental characteristics. If the characteristics are correlated with each other, then if they are not included in the regression the coefficients will not be correctly estimated....

The question this paper addresses is whether neighborhoods exposed to negative externalities such as an incinerator change differently from those neighborhoods which are not exposed, and if so, in what ways do they change?