This paper estimates the monetary value of cutting PM2.5, a dominant source of air pollution in China. By matching hedonic happiness in a nationally representative survey with daily air quality data according to exact dates and locations of interviews in China, we are able to estimate the...

This paper quantifies the marginal willingness to pay for a reduction of automobile traffic. By using a new structural approach in a hedonic framework by Bishop and Timmins 2019 we are able to avoid common issues in hedonic studies using instrumental variables. Our analysis is based on data from...

Hedonic pricing models use property value differentials to value changes in environmental quality. If unmeasured quality attributes of residential properties are correlated with an environmental quality measure of interest, conventional methods for estimating implicit prices will be biased....