Bayer, Patrick; Keohane, Nathaniel; Timmins, Christopher - In: Journal of Environmental Economics and Management 58 (2009) 1, pp. 1-14
Conventional hedonic techniques for estimating the value of local amenities rely on the assumption that households move freely among locations. We show that when moving is costly, the variation in housing prices and wages across locations may no longer reflect the value of differences in local...
