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Who Counts in Evaluating the Effects of Air Pollution Policies on Households? Non-Market Valuation in the Presence of Dependencies
Evans, Mary F. - 2009
Individuals who are likely to realize the largest benefits from improvements in air quality often depend on other members of their households to make time or monetary contributions to their care. The presence of these dependency relationships among household members poses challenges for benefit...
Persistent link: https://www.econbiz.de/10012463284
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Hedonic Prices and Implicit Markets : Estimating Marginal Willingness to Pay for Differentiated Products Without Instrumental Variables
Bishop, Kelly C. - 2011
The hedonic model of Rosen (1974) has become a workhorse for valuing the characteristics of differentiated products despite a number of well-documented econometric problems. For example, Bartik (1987) and Epple (1987) each describe a source of endogeneity in the second stage of Rosen's procedure...
Persistent link: https://www.econbiz.de/10012461046
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The Deadweight Loss of Social Recognition
Butera, Luigi - 2019
A growing body of empirical work shows that social recognition of individuals' behavior can meaningfully influence individuals' choices. This paper studies whether social recognition is a socially efficient lever for influencing individuals' choices. Because social recognition generates utility...
Persistent link: https://www.econbiz.de/10012479589
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Willingness to Pay for Clean Air : Evidence from Air Purifier Markets in China
Ito, Koichiro - 2016
We develop a framework to estimate willingness to pay (WTP) for clean air from defensive investment. Applying this … estimates of WTP for clean air in developing countries. A spatial discontinuity in air pollution created by the Huai River … preference parameters to investigate potential heterogeneity in WTP among households. We show that our estimates provide …
Persistent link: https://www.econbiz.de/10012456310
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How Do Investors Value ESG?
Baker, Malcolm; Egan, Mark L.; Sarkar, Suproteem K. - National Bureau of Economic Research - 2022
Environmental, social, and governance (ESG) objectives have risen to near the top of the agenda for corporate executives and boards, driven in large part by their perceptions of shareholder interest. We quantify the value that shareholders place on ESG using a revealed preference approach, where...
Persistent link: https://www.econbiz.de/10013477200
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Stated Preference Estimates of the Average Social Cost of Carbon
Ashenfarb, Matthew; Kotchen, Matthew J. - National Bureau of Economic Research - 2024
individual willingness-to-pay (WTP) of $1,116 per year to keep global warming less than 2°C by 2100 compared to a business …-as-usual temperature change. Combining the WTP estimate with population projections and assessments of the required emission reductions, we … find a domestic ASCC of $8 per tonne of carbon dioxide (CO2). Applying a benefits transfer approach to infer WTP in other …
Persistent link: https://www.econbiz.de/10014468243
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Incorporating Search and Sales Information in Demand Estimation
Hortaçsu, Ali; Natan, Olivia R.; Parsley, Hayden; … - National Bureau of Economic Research - 2021
We propose an approach to modeling and estimating discrete choice demand that allows for a large number of zero sale observations, rich unobserved heterogeneity, and endogenous prices. We do so by modeling small market sizes through Poisson arrivals. Each of these arriving consumers then solves...
Persistent link: https://www.econbiz.de/10012794558
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Causal Inference from Hypothetical Evaluations
Bernheim, Bert Douglas; Björkegren, Daniel; Naecker, … - National Bureau of Economic Research - 2021
This paper explores methods for inferring the causal effects of treatments on choices by combining data on real choices with hypothetical evaluations. We propose a class of estimators, identify conditions under which they yield consistent estimates, and derive their asymptotic distributions. The...
Persistent link: https://www.econbiz.de/10012794643
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Paying for Kidneys? A Randomized Survey and Choice Experiment
Elias, Julio J. - 2019
Legislation and public policies are often the result of competition and compromise between different views and interests. In several cases, strongly held moral beliefs voiced by societal groups lead lawmakers to prohibit certain transactions or to prevent them from occurring through markets....
Persistent link: https://www.econbiz.de/10012479534
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The Economic and Policy Consequences of Catastrophes
Pindyck, Robert S. - 2009
How likely is a catastrophic event that would substantially reduce the capital stock, GDP and wealth? How much should society be willing to pay to reduce the probability or impact of a catastrophe? We answer these questions and provide a framework for policy analysis using a general equilibrium...
Persistent link: https://www.econbiz.de/10012463277