We focus on the housing market and examine why nonlocal home buyers (NLBs) pay 15 percent more for houses than local home buyers (LBs). We estimate a housing demand model that returns heterogeneous willingness to pay parameters for housing attributes. Our results show that NLBs are willing to...

This multidisciplinary work explores ways of making environmental policy decisions in managing public goods and natural parks with the goal of maximizing economic benefits to society. The contributors to the volume seek the best strategies for improving the environmental sustainability and...