Semiparametric hedonic price models: assessing the effects of agricultural nonpoint source pollution

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Semiparametric hedonic price models: assessing the effects of agricultural nonpoint source pollution

Author Info

Christophe Bontemps (Toulouse School of Economics, GREMAQ-INRA, Toulouse, France)
Michel Simioni (Toulouse School of Economics, GREMAQ-INRA, Toulouse, France)
Yves Surry (Swedish University of Agricultural Sciences, Uppsala, Sweden)

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Christophe Bontemps

Abstract

In the area of environmental analysis using hedonic price models, we investigate the performance of various nonparametric and semiparametric specifications. The proposed model specifications are made up of two parts: a linear component for house characteristics and a non-(semi)parametric component representing the nonlinear influence of environmental indicators on house prices. We adopt a general-to-specific search procedure, based on recent specification tests comparing the proposed specifications with a fully nonparametric benchmark model, to select the best model specification. An application of these semiparametric models to rural districts indicates that pollution resulting from intensive livestock farming has a significant nonlinear impact on house prices. Copyright © 2008 John Wiley & Sons, Ltd.

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Publisher Info
Article provided by John Wiley & Sons, Ltd. in its journal Journal of Applied Econometrics.

Volume (Year): 23 (2008)
Issue (Month): 6 ()
Pages: 825-842
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Handle: RePEc:jae:japmet:v:23:y:2008:i:6:p:825-842

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Other versions:
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