This paper estimates the value of urban trees. The empirical strategy exploits an ecological catastrophe -- the Emerald Ash Borer (EAB) infestation in Toronto to isolate exogenous variation in neighborhood tree canopy changes. Adding one tree to a postcode increases property prices by 0.40%; the...

This paper develops a theoretically consistent technique for valuing non-marketed local attributes using compensating income differentials in the absence of housing market data. The individual's indirect utility function is identified with aggregate data describing equilibrium location...

"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...