Estimating the Demand for Air Quality: New Evidence Based on the Chicago Housing Market
AbstractThis paper combines a new, large household-level data set with the two-stage hedonic- estimation technique to derive new estimates of willingness to pay (WTP) for reduced air pollution. The WTP estimates are found robust against functional-form specification. Marginal WTP estimates for a reduction in particulate matter (PM-10) are found to be quite comparable with some previous estimates. Benefits of nonmarginal changes exhibit consistently higher monetary returns in the case of PM-10 than in the case of SO2, signifying that households dislike particulate pollution more than they do sulfur.
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Bibliographic InfoArticle provided by University of Wisconsin Press in its journal Land Economics.
Volume (Year): 75 (1999)
Issue (Month): 1 ()
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Web page: http://le.uwpress.org/
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