| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w12106 |
| 来源ID | Working Paper 12106 |
| Migration and Hedonic Valuation: The Case of Air Quality | |
| Patrick Bayer; Nathaniel Keohane; Christopher Timmins | |
| 发表日期 | 2006-03-20 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | Conventional hedonic techniques for estimating the value of local amenities rely on the assumption that households move freely among locations. We show that when moving is costly, the variation in housing prices and wages across locations may no longer reflect the value of differences in local amenities. We develop an alternative discrete-choice approach that models the household location decision directly, and we apply it to the case of air quality in U.S. metro areas in 1990 and 2000. Because air pollution is likely to be correlated with unobservable local characteristics such as economic activity, we instrument for air quality using the contribution of distant sources to local pollution %u2013 excluding emissions from local sources, which are most likely to be correlated with local conditions. Our model yields an estimated elasticity of willingness to pay with respect to air quality of 0.34 to 0.42. These estimates imply that the median household would pay $149 to $185 (in constant 1982-1984 dollars) for a one-unit reduction in average ambient concentrations of particulate matter. These estimates are three times greater than the marginal willingness to pay estimated by a conventional hedonic model using the same data. Our results are robust to a range of covariates, instrumenting strategies, and functional form assumptions. The findings also confirm the importance of instrumenting for local air pollution. |
| 主题 | Public Economics ; National Fiscal Issues ; Environmental and Resource Economics ; Renewable Resources ; Environment ; Regional and Urban Economics ; Regional Economics |
| URL | https://www.nber.org/papers/w12106 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/569760 |
| 推荐引用方式 GB/T 7714 | Patrick Bayer,Nathaniel Keohane,Christopher Timmins. Migration and Hedonic Valuation: The Case of Air Quality. 2006. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w12106.pdf（742KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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