The hedonic approach has been advanced recently as an important tool for assessing the value of non-market environmental attributes. In its most usual form, the method involves an attempt econometrically to capture differential prices for homes attributable to variations in the environmental...

Analysts frequently adjust price, income, or other data to eliminate the influence of inflation or difference in size The authors of this article examine economic and statistical reasons for deflating time-series and cross-sectional data prior to estimating demand relations Signs and magnitudes...