全球智库信息集成服务系统(G2TT): Can Property Values Capture Changes in Environmental Health Risks? Evidence from a Stated Preference Study in Italy and the UK

G2TT

来源类型	FEEM working papers "Note di lavoro" series
规范类型	论文
	Can Property Values Capture Changes in Environmental Health Risks? Evidence from a Stated Preference Study in Italy and the UK
	Dennis Guignet; Anna Alberini
发表日期	2013
出处	Climate Change and Sustainable Development
出版年	2013
语种	英语
摘要	Hedonic property value models are often used to place a value on localized amenities and disamenities. In practice, however, results may be affected by (i) omitted variable bias and (ii) whether homebuyers and sellers are aware of, and respond to, the assumed environmental measure. In this paper we undertake an alternative stated preference (SP) approach that eliminates the potential for unobserved confounders and where the measure of environmental quality is explicitly presented to respondents. We examine how homeowners in the United Kingdom and Italy value mortality risk reductions by asking them to choose among hypothetical variants of their home that differ in terms of mortality risks from air pollution and price. To our knowledge this is the first stated preference study examining respondents’ willingness to pay for properties using a quantitative and clearly specified measure of health risks. We find that Italian homeowners hold a value of a statistical life (VSL) of about €6.4 million, but UK homeowners tend to hold a much lower VSL (€2.1 million). This may be due to the fact that respondents in the UK do not perceive air pollution where they live to be as threatening, and actually live in cities with relatively low air pollution levels. Exploiting part of our experimental design, we find that Italian homeowners value a reduction in the risk of dying from cancer more than from other causes, but UK respondents do not hold such a premium. We also find that those who face higher baseline risks, due to higher air pollution levels where they live, hold a higher VSL, especially in the UK. In both countries, the VSL is twice as large among individuals who perceive air pollution where they live as relatively high.
特色分类	I18;J17;K32;Q51;Q53
关键词	Home Values Air Pollution Stated Preference Vsl Value of Statistical Life Value of a Prevented Fatality Health Risks Cancer Premium
URL	https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/can-property-values-capture-changes-in-environmental-health-risks-evidence-from-a-stated-preference-study-in-italy-and-the-uk/
来源智库	Fondazione Eni Enrico Mattei (Italy)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/118195
推荐引用方式 GB/T 7714	Dennis Guignet,Anna Alberini. Can Property Values Capture Changes in Environmental Health Risks? Evidence from a Stated Preference Study in Italy and the UK. 2013.

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文件名称/大小	资源类型	版本类型	开放类型	使用许可
2013725168471Nota_di（71KB）	智库出版物		限制开放	CC BY-NC-SA	浏览
201372516944NDL2013-（1668KB）	智库出版物		限制开放	CC BY-NC-SA	浏览