In housing markets with asymmetric information list prices may signal unobserved properties of the house or the seller. Asymmetric information is the starting point of many models for the housing market. In this paper, we estimate the causal effect of list-price reductions to test for the...

Even though economic models have been relatively successful in explaining the long run patterns of house prices, they have more difficulties in explaining short run developments of the housing markets. However, the fact that during such ‘bubbles’ the spatial pattern of house prices, which...

This paper estimates the impact of the murder of film maker Theo van

In this paper we consider the problem of sharing water from a river among a group of agents (countries, cities, firms) located along the river. The benefit of each agent depends on the amount of water consumed by the agent. An allocation of the water among the agents is efficient when it...

In this paper we discuss experimental evidence for two different institutional approaches to a possible resolution of the fundamental conflict between social welfare maximization and individual utility maximization. The basic workhorse for modelling this conflict is the voluntary contribution of...

We assess the monetary value of the noise damage, caused by aircraft noise nuisance around Amsterdam Airport, as the sum of hedonic house price differentials and a residual cost component. The residual costs are assessed from a survey, including an ordinal life satisfaction scale, on which...

This paper has a twofold objective. First, we develop a new method to assess the monetary value for individuals of external effects. The method makes use of an ordinal index of life satisfaction as scored by individual respondents who are subjected in varying intensity to the external effect....

Using a dynamic approach, employing data on job mobility, we demonstrate that university workers' marginal willingness to pay for reducing commuting distance is about euro 0.25 per kilometre travelled. This corresponds to a marginal willingness to pay for reducing commuting time of about 75% of...

The application of hedonic price approaches to obtain estimates of the households’ value of apartment characteristics is invalid for regulated housing markets such as public housing. We introduce and apply an alternative method that allows us to estimate renters' marginal willingness to...

In this paper we investigate the effects of new railway stations on house prices using an extensive repeated sales dataset over a period of 13 years. We employ semiparametric panel data techniques allowing for anticipation effects of station openings. We show that a kilometre reduction in...