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来源类型 | Working Paper |
规范类型 | 报告 |
DOI | 10.3386/w15724 |
来源ID | Working Paper 15724 |
A Theory-Based Approach to Hedonic Price Regressions with Time-Varying Unobserved Product Attributes: The Price of Pollution | |
Patrick Bajari; Jane Cooley; Kyoo il Kim; Christopher Timmins | |
发表日期 | 2010-02-04 |
出版年 | 2010 |
语种 | 英语 |
摘要 | We propose a new strategy for a pervasive problem in the hedonics literature--recovering hedonic prices in the presence of time-varying correlated unobservables. Our approach relies on an assumption about homebuyer rationality, under which prior sales prices can be used to control for time-varying unobservable attributes of the house or neighborhood. Using housing transactions data from California's Bay Area between 1990 and 2006, we apply our estimator to recover marginal willingness to pay for reductions in three of the EPA's "criteria" air pollutants. Our findings suggest that ignoring bias from time-varying correlated unobservables considerably understates the benefits of a pollution reduction policy. |
主题 | Econometrics ; Environmental and Resource Economics ; Environment |
URL | https://www.nber.org/papers/w15724 |
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/573398 |
推荐引用方式 GB/T 7714 | Patrick Bajari,Jane Cooley,Kyoo il Kim,et al. A Theory-Based Approach to Hedonic Price Regressions with Time-Varying Unobserved Product Attributes: The Price of Pollution. 2010. |
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 | ||
w15724.pdf(327KB) | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 |
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