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An estimation of the economic value of an air quality improvement program in Santiago, Chile

Author

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  • Eugenio Figueroa
  • Jorge Rogat
  • Luis Firinguetti

Abstract

There is no doubt regarding the negative effects of air pollution on human health, economic property and the environment. The almost fie million inhabitants living in Santiago, Chile, are exposed to high levels of air contamination, especially during winter time when the level of pollution is at its worst. In this paper, a hedonic price model is used to first, estimate the effect of air pollution on house prices in Santiago and second, to estimate the willingness to pay (WTP) for a program that reduces air contamination by 50 percent. The data consists of 992 observations containing market prices for houses and their characteristics. The average WTP for the air quality improvement program was estimated in $ 567,000 (US$ 1,626), and the aggregated WTP for Santiago in almost 600 billion pesos (US$ 1.7 billion).

Suggested Citation

  • Eugenio Figueroa & Jorge Rogat & Luis Firinguetti, 1996. "An estimation of the economic value of an air quality improvement program in Santiago, Chile," Estudios de Economia, University of Chile, Department of Economics, vol. 23(esp Year ), pages 99-114, August.
    • Handle: RePEc:udc:esteco:v:23:y:1996:i:esp:p:99-114
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    Cited by:

    1. Prashant Bharadwaj & Matthew Gibson & Joshua Graff Zivin & Christopher Neilson, 2017. "Gray Matters: Fetal Pollution Exposure and Human Capital Formation," Journal of the Association of Environmental and Resource Economists, University of Chicago Press, vol. 4(2), pages 505-542.
    2. Cristián Mardones, 2006. "Impacto de la Percepción de la Calidad del Aire sobre el Precio de las Viviendas en Concepción-Talcahuano, Chile," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 43(128), pages 301-330.
    3. Yenniel Mendoza & Roger Loyola & Alonso Aguilar & Roberto Escalante, 2019. "Valuation of Air Quality in Chile: The Life Satisfaction Approach," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 145(1), pages 367-387, August.

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    Keywords

    Air quality; improvement program.;

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