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Environmental Amenities as Sources for Product Differentiation and Market Power

Author

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  • Osborne, Laura L.
  • Smith, V. Kerry

Abstract

This paper evaluates the importance of site-specific environmental amenities as a source of product differentiating market power. Using estimates from hedonic price equations and residual demand models, the analysis recovers firm-specific estimates of price markup and estimates of the marginal willingness to pay for access to coastal beaches. The application used in the analysis involves rental price and occupancy data for several thousand beach properties along a portion of the North Carolina coastline during the 1987 to 1992 rental seasons.

Suggested Citation

  • Osborne, Laura L. & Smith, V. Kerry, 1996. "Environmental Amenities as Sources for Product Differentiation and Market Power," Working Papers 96-08, Duke University, Department of Economics.
  • Handle: RePEc:duk:dukeec:96-08
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    Cited by:

    1. Wesley Nimon & John Beghin, 1999. "Are Eco-Labels Valuable? Evidence From the Apparel Industry," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 81(4), pages 801-811.

    More about this item

    JEL classification:

    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
    • Q26 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Recreational Aspects of Natural Resources
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism

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