IDEAS home Printed from https://ideas.repec.org/a/uwp/landec/v92y2016i4p703-717.html
   My bibliography  Save this article

Economic Valuation of Environmental Quality Using Property Auction Data: A Structural Estimation Approach

Author

Listed:
  • Tadao Hoshino
  • Hayato Nakanishi

Abstract

This study proposes a method to economically evaluate environmental quality using property auction data. Our approach is consistent with microeconomic auction theory and can directly estimate the value function from the data, a task that is often difficult when using conventional revealed preference methods such as the hedonic approach. We use a method of simulated moments to estimate the value function, which in turn is used to calculate the economic value of environmental quality changes. We apply this method to data on foreclosure property auctions in Tokyo in order to economically evaluate hypothetical improvements in neighborhood fire risks.

Suggested Citation

  • Tadao Hoshino & Hayato Nakanishi, 2016. "Economic Valuation of Environmental Quality Using Property Auction Data: A Structural Estimation Approach," Land Economics, University of Wisconsin Press, vol. 92(4), pages 703-717.
  • Handle: RePEc:uwp:landec:v:92:y:2016:i:4:p:703-717
    Note: DOI:
    as

    Download full text from publisher

    File URL: http://le.uwpress.org/cgi/reprint/92/4/703
    Download Restriction: A subscripton is required to access pdf files. Pay per article is available.

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    JEL classification:

    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:uwp:landec:v:92:y:2016:i:4:p:703-717. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (). General contact details of provider: http://le.uwpress.org/ .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.