VALUING RISK-REDUCING INTERVENTIONS WITH HEDONIC MODELS: THE CASE OF EROSION PROTECTION

Jeffrey Dorfman (), Andrew G. Keeler and Warren Kriesel

Journal of Agricultural and Resource Economics, 1996, vol. 21, issue 01, 11

Abstract: This article extends the literature on economic valuation of public interventions that reduce environmental risk. We consider the case where risk-reducing interventions have different characteristics than the risk proxies used in hedonic regressions. We then demonstrate the importance of these considerations by reexamining an existing analysis of shoreline protection where we estimate risk using a latent variables model. The results show substantially different and arguably more plausible results.

Keywords: Environmental Economics and Policy; Risk and Uncertainty (search for similar items in EconPapers)
Date: 1996
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:jlaare:31001

DOI: 10.22004/ag.econ.31001

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