Rankings of urban areas provide useful information to planning recreational or tourism activities, making housing-locational decisions, and designing policies to attract industries. This paper illustrates how the structural approach to hedonic equilibrium models can be used to derive a quality...

This paper applies an equilibrium quality theory for differentiated products to estimate the willingness to pay for improvements in the air quality of Chicago, Cleveland, Dallas, Houston, and Indianapolis. The empirical results show (i) that the structural approach and the standard...

This paper presents a quality theory for differentiated products. Analytical solutions for the equilibrium demand for quality and the equilibrium price equation are computed. The model is estimated and the willingness to pay for improvements in the air quality of Houston is computed. The...

This paper presents a theory that is appropriate for evaluating the quality of differentiated products. The model is used to evaluate the products of the Japanese motorcycle manufacturers.

This paper examines the behavior of households and firms in the presence of variations in regional characteristics that affect their location decisions. It then determines relevant equilibrium conditions. Based on the implications of these equilibrium conditions, firm and household locations can...

A brand is a kind of sign by which we can distinguish one commodity from another. Commodity prices, as well as consumers’ utility and firms’ profit, are affected by brands. Presents a theoretical framework that incorporates aspects of brand in microeconomic analysis. The theory developed...