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Which hedonic models can we trust to recover the marginal willingness to pay for environmental amenities?



Nicolai V. Kuminoff [email=kuminoff@asu.edu][/email], Christopher F. Parmeter and Jaren C. Pope

Which hedonic models can we trust to recover the marginal willingness to pay for environmental amenities?
Which hedonic models can we trust to recover the marginal willingness to pay for environmental amenities? Nicolai V. Kuminoff， Christopher F. Parmeter，and Jaren C. Pope




AbstractThe hedonic property value model is among our foremost tools for evaluating the economic consequences of policies that target the supply of local public goods, environmental services, and urban amenities. We design a theoretically consistent and empirically realistic Monte Carlo study of whether omitted variables seriously undermine the method’s ability to accurately identify economic values. Our results suggest that large gains in accuracy can be realized by moving from the standard linear specifications for the price function to a more flexible framework that uses a combination of spatial fixed effects, quasi-experimental identification, and temporal controls for housing market adjustment.


Keywords: Hedonic; Functional form; Omitted variable; Quasi-experiment

该文是出自哪个期刊、哪年哪卷的？需要说明一下，不然的话很难查到。

该作者近年有另外两篇第一作者的文章，也属高产作者，呵呵

1、Decomposing the structural identification of non-market values
Journal of Environmental Economics and Management, Volume 57, Issue 2, March 2009, Pages 123-139
Nicolai V. Kuminoff


2、A new approach to computing hedonic equilibria and investigating the properties of locational sorting models
Journal of Urban Economics, Volume 67, Issue 3, May 2010, Pages 322-335
Nicolai V. Kuminoff, Abdul Salam Jarrah