Environmental Hazard and Residential Value, Location and Dispersion
This paper provides microeconomic foundations to the relationship between the values of residential properties and the environmental quality of their location. It constructs an environmental–quality-adjusted lifetime-utility function by combining satisfaction from consumption over the lifespan with risk to life from living in an environmentally hazardous location. It employs this utility function to analyse willingness to pay for environmental quality, choice of location and residential dispersion and its relationship with income distribution.
|Date of creation:||2003|
|Date of revision:|
|Contact details of provider:|| Postal: School of Economics, University of Wollongong, Northfields Avenue, Wollongong NSW 2522 Australia|
Phone: +612 4221-3659
Fax: +612 4221-3725
Web page: http://business.uow.edu.au/econ/index.html
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- Harrison, David Jr. & Rubinfeld, Daniel L., 1978. "Hedonic housing prices and the demand for clean air," Journal of Environmental Economics and Management, Elsevier, vol. 5(1), pages 81-102, March.
- Levy, Amnon, 2002.
"A lifetime portfolio of risky and risk-free sexual behaviour and the prevalence of AIDS,"
Journal of Health Economics,
Elsevier, vol. 21(6), pages 993-1007, November.
- Levy, A., 2000. "A Lifetime Portfolio of Risky and Risk-Free Sexual Behaviour and the Prevalence of AIDS," Economics Working Papers wp01-04, School of Economics, University of Wollongong, NSW, Australia.
- Kiel Katherine A. & McClain Katherine T., 1995. "House Prices during Siting Decision Stages: The Case of an Incinerator from Rumor through Operation," Journal of Environmental Economics and Management, Elsevier, vol. 28(2), pages 241-255, March.
- Levy, Amnon, 2002. "Rational eating: can it lead to overweightness or underweightness?," Journal of Health Economics, Elsevier, vol. 21(5), pages 887-899, September.
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