Semiparametric hedonic price models: assessing the effects of agricultural nonpoint source pollution

Christophe Bontemps (), Michel Simioni and Yves Surry
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Michel Simioni: Toulouse School of Economics, GREMAQ-INRA, Toulouse, France, Postal: Toulouse School of Economics, GREMAQ-INRA, Toulouse, France
Yves Surry: Swedish University of Agricultural Sciences, Uppsala, Sweden, Postal: Swedish University of Agricultural Sciences, Uppsala, Sweden

Journal of Applied Econometrics, 2008, vol. 23, issue 6, pages 825-842

Abstract: In the area of environmental analysis using hedonic price models, we investigate the performance of various nonparametric and semiparametric specifications. The proposed model specifications are made up of two parts: a linear component for house characteristics and a non-(semi)parametric component representing the nonlinear influence of environmental indicators on house prices. We adopt a general-to-specific search procedure, based on recent specification tests comparing the proposed specifications with a fully nonparametric benchmark model, to select the best model specification. An application of these semiparametric models to rural districts indicates that pollution resulting from intensive livestock farming has a significant nonlinear impact on house prices. Copyright © 2008 John Wiley & Sons, Ltd.

Date: 2008
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