Altruistic preferences of various forms may cause difficulties in welfare economics. In the valuation of public goods, such preferences are believed to help explain the substantial non-use values found in many stated preference (SP) valuation surveys. However, studies analysing the effect of...

This paper develops a generalized hedonic model in which an exogenous shock to a single product attribute can affect other attributes, the markets for the product's complements and substitutes, and aggregate quantity produced. These factors are shown to be empirically relevant and to cause bias...