A general analytical model to describe the impact of environmental disamenities on duration of sales is derived. A statistical technique to recover a seller's reservation price is proposed. An econometric procedure that consistently estimates market duration and a seller's reservation price is...

One of the only places where environmental quality is traded on explicit markets is real estate. There are several techniques that can be used to study the effects of environmental quality on property values and infer willingness to pay for improvements. The most commonly used method is the...

Although there is evidence that people are aware of local ozone levels and may adjust their day-to-day routines when ozone levels change, little is known about the relationship between local ozone levels and the timing of residential moves. Results from a discrete-time hazard model suggest that...