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Estimating the Demand for Air Quality: New Evidence Based on the Chicago Housing Market

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  • Sudip Chattopadhyay

Abstract

This 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.

Suggested Citation

  • Sudip Chattopadhyay, 1999. "Estimating the Demand for Air Quality: New Evidence Based on the Chicago Housing Market," Land Economics, University of Wisconsin Press, vol. 75(1), pages 22-38.
  • Handle: RePEc:uwp:landec:v:75:y:1999:i:1:p:22-38
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    JEL classification:

    • Q25 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Water

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