Showing 1 - 10 of 87
Omitted, misspecified, or mismeasured spatially varying characteristics are a cause for concern in hedonic house price models. Spatial econometrics or spatial fixed effects have become popular ways of addressing these concerns. We discuss the limitations of standard spatial approaches to hedonic...
Persistent link: https://www.econbiz.de/10011268000
Views of natural areas and green space may have value quite apart from access to those lands. Using 25 years of home sales data from St. Louis County, Missouri, and modern geographic information system tools to measure views, we estimate a hedonic property fixed-effects model that captures the...
Persistent link: https://www.econbiz.de/10011118593
In contingent valuation, the willingness to pay for hypothetical programs may be affected by the order in which programs are presented to respondents. With inclusive lists, economic theory suggests that sequence effects should be expected. However, when policy makers allocate public budgets to...
Persistent link: https://www.econbiz.de/10011118598
One of the main issues on the research agenda regarding stated preference methods concerns the heterogeneity of preferences either within or between individuals. We present a multilevel mixed model (MMM) to capture heterogeneity in deterministic utility components, instead of simply leaving them...
Persistent link: https://www.econbiz.de/10010734824
Using multiple choice tasks per respondent in discrete choice experiment studies increases the amount of available information. However, respondents’ learning and fatigue may lead to changes in observed utility function preference (taste) parameters, as well as the variance in its error term...
Persistent link: https://www.econbiz.de/10010765113
We demonstrate how choice experiment survey methods can be used to guide ecosystem restoration efforts. We use a choice experiment survey to estimate willingness to pay (WTP) for different attributes of restored grassland ecosystems. We find that the presence of nearby grasslands increases a...
Persistent link: https://www.econbiz.de/10010765115
In a site-selection choice experiment various hypotheses are tested related to spatial heterogeneity in willingness to pay (WTP) for environmental improvements. Spatial heterogeneity is measured through distance-decay effects, substitute sites inside and outside the experiment’s choice set,...
Persistent link: https://www.econbiz.de/10010896677
A contingent valuation study conducted in China, Sweden, and the United States was used to investigate citizens’ willingness to pay (WTP) for reducing CO2 emissions. We find that a majority of the respondents in all three countries believe that the mean global temperature has increased over...
Persistent link: https://www.econbiz.de/10010849924
Estimating the economic benefits of reduced health damages due to improvements in environmental quality continues to challenge economists. We review welfare measures associated with reduced wildfire smoke exposure, and a unique dataset from California’s Station Fire of 2009 allows for a...
Persistent link: https://www.econbiz.de/10010849928
Open space lands, national forests in particular, are usually treated as homogeneous entities in hedonic price studies. Failure to account for the heterogeneous nature of public open spaces may result in inappropriate inferences about the benefits of proximate location to such lands. In this...
Persistent link: https://www.econbiz.de/10010849930