Manfred Kemper: Das Umweltproblem in der Marktwirtschaft. Wirtschaftstheoretische Grundlagen und vergleichende Analyse umweltpolitischer Instrumente in der Luftreinhalte- und Gewässerschutzpolitik. Verlag Duncker & Humblot, Berlin 1989, 354 Seiten, 78 DM

Air quality is one of the major concerns in big cities. It is therefore of interest to evaluate properly air pollution. Specifically, this paper aims at measuring how air quality is incorporated in transaction prices in downtown Madrid. For that purpose, we use multilevel models since our sample...