| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w24290 |
| 来源ID | Working Paper 24290 |
| Do Discrete Choice Approaches to Valuing Urban Amenities Yield Different Results Than Hedonic Models? | |
| Paramita Sinha; Martha L. Caulkins; Maureen L. Cropper | |
| 发表日期 | 2018-02-12 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | Amenities that vary across cities are typically valued using either a hedonic model, in which amenities are capitalized into wages and housing prices, or a discrete model of household location choice. In this paper, we use the 2000 Public Use Microdata Sample (PUMS) to value climate amenities using both methods. We compare estimates of marginal willingness to pay (MWTP), allowing preferences for climate amenities to vary by location. We find that mean MWTP for warmer winters is about twice as large using the discrete choice approach as with the hedonic approach; mean MWTP for cooler summers is approximately the same. The two approaches differ, however, in their estimates of taste sorting. The discrete choice model implies that households with the highest MWTP for warmer winters locate in cities with the mildest winters, while the hedonic model does not. Differences in estimates are due to primarily to two factors: (1) the discrete choice model incorporates the psychological costs of moving from one’s birthplace, which the hedonic models do not; (2) the discrete choice model uses information on market shares (i.e., population) in estimating parameters, which the hedonic model does not. |
| 主题 | Environmental and Resource Economics ; Environment |
| URL | https://www.nber.org/papers/w24290 |
| 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/581962 |
| 推荐引用方式 GB/T 7714 | Paramita Sinha,Martha L. Caulkins,Maureen L. Cropper. Do Discrete Choice Approaches to Valuing Urban Amenities Yield Different Results Than Hedonic Models?. 2018. |
| 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 | ||
| w24290.pdf（1401KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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