Economic assessment of odour emissions: an application of Hedonic Price Method
AbstractEnvironmental economics suggests a number of techniques to assess public goods. Such methods, surrogating traditional market mechanism, allow estimations of willingness to pay for improving environmental quality. In the case study proposed in this paper an hedonic price method is implemented to assess the benefits deriving by an improvement of environmental quality due to a reduction in odor emissions. In fact, odor impacts are usually the main pressure perceived by inhabitants living near sugar production plants (localized in Tuscany, in the current case study). The implementation of the hedonic price method allows to exhibit that this kind of externalities affect the real estate market in the nearby the area
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Bibliographic InfoPaper provided by Department of Economics, University of Siena in its series Department of Economics University of Siena with number 485.
Date of creation: Jul 2006
Date of revision:
hedonic price method; economic assessment of natural resources; odor nuissance;
Find related papers by JEL classification:
- Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
This paper has been announced in the following NEP Reports:
- NEP-AGR-2007-01-13 (Agricultural Economics)
- NEP-ALL-2007-01-13 (All new papers)
- NEP-ENV-2007-01-13 (Environmental Economics)
- NEP-URE-2007-01-13 (Urban & Real Estate Economics)
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