The Implications of Heterogeneous Preferences for Environmental Zoning
This paper examines the effects of environmental zoning policies on lakefront land development, sorting, and economic welfare in a model where agents are heterogeneous in preferences and income. Agents consume lakefront amenities that are endogenous to development and the sorting process yields lakes which differ by amenities and frontage prices. Our findings include the following: i) lakes become more homogeneous with a collapsing price premium as incomes grow, ii) zoning can preserve the sorting process and be welfare improving, and iii) land prices may not capture all welfare effects from zoning.
|Date of creation:||Jul 2006|
|Date of revision:|
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Web page: http://www.aae.wisc.edu/pubs/sps/
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- Holger Sieg & V. Kerry Smith & H. Spencer Banzhaf & Randy Walsh, .
"Estimating the General Equilibrium Benefits of Large Changes in Spatially Delineated Public Goods,"
GSIA Working Papers
2003-07, Carnegie Mellon University, Tepper School of Business.
- Holger Sieg & V. Kerry Smith & H. Spencer Banzhaf & Randy Walsh, 2004. "Estimating The General Equilibrium Benefits Of Large Changes In Spatially Delineated Public Goods," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 45(4), pages 1047-1077, November.
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Book chapters authored by Upjohn Institute researchers,
in: Joseph Herriges & Catherine L. Kling (ed.), Revealed Preference Approaches to Environmental Valuation, volume 0, pages 53-64
W.E. Upjohn Institute for Employment Research.
- Timothy J. Bartik, 2008. "Measuring the Benefits of Amenity Improvements in Hedonic Price Models," Book chapters authored by Upjohn Institute researchers, in: Richard E. Just & Darrell L. Hueth & Andrew Schmitz (ed.), Applied Welfare Economics, pages 643-654 W.E. Upjohn Institute for Employment Research.
- Timothy J. Bartik, 1988. "Measuring the Benefits of Amenity Improvements in Hedonic Price Models," Land Economics, University of Wisconsin Press, vol. 64(2), pages 172-183.
- Epple, Dennis & Filimon, Radu & Romer, Thomas, 1993. "Existence of voting and housing equilibrium in a system of communities with property taxes," Regional Science and Urban Economics, Elsevier, vol. 23(5), pages 585-610, November.
- Jan K. Brueckner, 1990. "Growth Controls and Land Values in an Open City," Land Economics, University of Wisconsin Press, vol. 66(3), pages 237-248.
- Epple, Dennis & Platt, Glenn J., 1998. "Equilibrium and Local Redistribution in an Urban Economy when Households Differ in both Preferences and Incomes," Journal of Urban Economics, Elsevier, vol. 43(1), pages 23-51, January.
- Hamilton, Bruce W, 1976. "Capitalization of Intrajurisdictional Differences in Local Tax Prices," American Economic Review, American Economic Association, vol. 66(5), pages 743-53, December.
- Dennis Epple & Holger Sieg, 1999. "Estimating Equilibrium Models of Local Jurisdictions," Journal of Political Economy, University of Chicago Press, vol. 107(4), pages 645-681, August.
- Charles M. Tiebout, 1956. "A Pure Theory of Local Expenditures," Journal of Political Economy, University of Chicago Press, vol. 64, pages 416.
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