The Hedonic Approach: No Panacea for Valuing Water Quality Changes

Cleve E. Willis and John H. Foster

Journal of the Northeastern Agricultural Economics Council, 1983, vol. 12, issue 01, 5

Abstract: The hedonic approach has been advanced recently as an important tool for assessing the value of non-market environmental attributes. In its most usual form, the method involves an attempt econometrically to capture differential prices for homes attributable to variations in the environmental characteristic. This technique has been applied with success for a variety of attributes - most notably the study of air pollution. However, the case studies reported here for water quality valuation were much less successful. We advance several reasons why the hedonic approach may be ill-suited to measuring the value of water quality.

Keywords: Research; Methods/Statistical; Methods (search for similar items in EconPapers)
Date: 1983
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:nareaj:159524

DOI: 10.22004/ag.econ.159524

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