Partial identification of amenity demand functions.
This paper presents a new hedonic framework for reduced form estimation of the demand for spatially delineated nonmarket amenities. We begin from a conventional model of market equilibrium where an amenity is conveyed to homeowners by virtue of their residential location choices. Different housing m...
| Publicado en: | Journal of Environmental Economics & Management Vol. 71; pp. 180 - 198 |
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| Autores principales: | , , |
| Formato: | Artículo |
| Publicado: |
Academic Press Inc.
May2015
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=102461801&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 102461801 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00950696 EEM jtl: Journal of Environmental Economics & Management issn: 00950696 maglogo: N pubinfo: dt: May2015 vid: 71 pid: 735 pub: Academic Press Inc. artinfo: ui: 102461801 10.1016/j.jeem.2015.02.002 ppf: 180 ppct: 18 formats: tig: atl: Partial identification of amenity demand functions. aug: au: Zhang, Congwen Boyle, Kevin J. Kuminoff, Nicolai V. affil: Virginia Tech, Department of Agricultural and Applied Economics, Blacksburg, VA 24061, United States Arizona State University, Department of Economics, Tempe, AZ 85287, United States su: Economic equilibrium Marketing research Economic demand Hedonistic consumption Estimation theory sug: subj: Economic equilibrium Marketing research Economic demand Hedonistic consumption Marketing Research and Public Opinion Polling Estimation theory keyword: Demand estimation Hedonic Partial identification Demand estimation Hedonic Partial identification ab: This paper presents a new hedonic framework for reduced form estimation of the demand for spatially delineated nonmarket amenities. We begin from a conventional model of market equilibrium where an amenity is conveyed to homeowners by virtue of their residential location choices. Different housing markets may have different hedonic price functions due to variation across markets in the joint distribution of preferences, income, regulations, and technology. In this setting, taste-based sorting within and across markets confounds point identification of reduced form descriptions for amenity demand curves. However, we demonstrate that basic knowledge of the sorting process is sufficient to construct instruments that identify bounds on demand curves. Bounds on demand curves can be translated into ranges of welfare measures for non-marginal changes in amenities. We find these ranges to be potentially informative in a demonstrative application to evaluating the benefits of improved lake water clarity in the Northeast. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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