Hedonic pricing models use property value differentials to value changes in environmental quality. If unmeasured quality attributes of residential properties are correlated with an environmental quality measure of interest, conventional methods for estimating implicit prices will be biased....

This paper explores the use of remote sensing techniques and hedonic pricing methods for the valuation of urban green amenities and in particular street trees. The classification and study of these amenities in an urban area is challenged by the high level of spatially detailed data required....

Modern geographic information system (GIS) tools have allowed a more careful examination of how the physical characteristics of a property's neighborhood and surrounding land uses are capitalized into property values. The ArcGIS Viewshed tool is a case in point: it identifies the cells in an...

The existing literature focuses on how perceived flood risk affects house value. Search theory, however, implies that flood risks will be capitalized into both house price and liquidity. This paper draws on search theory to develop an empirical approach for estimating flood risk capitalization...

A ubiquitous and largely unquestioned assumption in studies of housing markets is that there is perfect information about local amenities. This paper measures the housing market and health impacts of 1,600 openings and closings of industrial plants that emit toxic pollutants. We find that...

Revealed preference methods like the hedonic model generally assume economic agents have access to publicly available information and use it effectively. In the housing market, the recent proliferation of seller disclosure laws suggests that policymakers perceive buyers to be less than "fully...

The residential housing market can play an important role in the reduction of global carbon emissions, and the information conveyed by energy labels may help to encourage energy conservation among private consumers. This paper reports the first evidence on the market adoption and economic...

The unprecedented damage caused by the Great East Japan Earthquake and nuclear disaster greatly altered people's awareness of risk not only in directly affected areas but also in unaffected areas as well. This study focuses on the relationship between earthquake risk and real estate prices in...

Climate change and the recent rapid expansion of residential areas into rural areas after the outbreak of COVID-19 expose more communities to the wildfire risk. This research adopts a unique database containing house transaction data from near the boundary of the Bushfire Prone Area (BPA), which...