Hedonic Prices and the Benefits of Public Projects

Yoshitsugu Kanemoto

Working Paper from Economics Department, Queen's University

Abstract: When lot side is endogenous, hedonic prices do not provide a correct benefit measure of a large public project even if population is homogeneous. Except for some polar cases where they yield correct estimates, the use of hedonic prices results in over-estimation. The results are extended to cases of heterogeneous populations. The short-run benefits with fixed lot size are also examined.

Pages: 29 pages
Date: 1985
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Citations: View citations in EconPapers (8)

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Journal Article: Hedonic Prices and the Benefits of Public Projects (1988)
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Persistent link: https://EconPapers.repec.org/RePEc:qed:wpaper:617

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