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Environmental Hazard and Residential Value, Location and Dispersion

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Author Info
Levy, Amnon () (University of Wollongong)

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Abstract

This paper provides microeconomic foundations to the relationship between the values of residential properties and the environmental quality of their location. It constructs an environmental–quality-adjusted lifetime-utility function by combining satisfaction from consumption over the lifespan with risk to life from living in an environmentally hazardous location. It employs this utility function to analyse willingness to pay for environmental quality, choice of location and residential dispersion and its relationship with income distribution.

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File URL: http://www.uow.edu.au/content/groups/public/@web/@commerce/@econ/documents/doc/uow012158.pdf
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Publisher Info
Paper provided by School of Economics, University of Wollongong, NSW, Australia in its series Economics Working Papers with number wp03-16.

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Length: 29 pages
Date of creation: 2003
Date of revision:
Handle: RePEc:uow:depec1:wp03-16

Contact details of provider:
Postal: School of Economics, University of Wollongong, Northfields Avenue, Wollongong NSW 2522 Australia
Phone: +612 4221-3663
Fax: +612 4221-3725
Web page: http://www.uow.edu.au/commerce/econ/
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Related research
Keywords: microeconomic foundations; residential properties; environmental quality; utility function; location; residential dispersion;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Levy, Amnon, 2002. "A lifetime portfolio of risky and risk-free sexual behaviour and the prevalence of AIDS," Journal of Health Economics, Elsevier, vol. 21(6), pages 993-1007, November. [Downloadable!] (restricted)
    Other versions:
  2. Harrison, David Jr. & Rubinfeld, Daniel L., 1978. "Hedonic housing prices and the demand for clean air," Journal of Environmental Economics and Management, Elsevier, vol. 5(1), pages 81-102, March. [Downloadable!] (restricted)
  3. Levy, Amnon, 2002. "Rational eating: can it lead to overweightness or underweightness?," Journal of Health Economics, Elsevier, vol. 21(5), pages 887-899, September. [Downloadable!] (restricted)
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