Are land values related to ambient air pollution levels? Hedonic evidence from Mexico City
David Heres and
Environment and Development Economics, 2019, vol. 24, issue 3, 252-270
This article investigates whether residents of Mexico City value air quality. Our results suggest that air quality improvement in PM10 is equivalent to a marginal willingness to pay (MWTP) of US$440.31 per property for the period 2006â€“2013. The corresponding MWTP for PM2.5 is US$880.63, for O3 is US$623.78, and for SO2 is as much as US$2091.50. These estimates are considerably larger in magnitude compared to the few other studies in similar settings. As a percentage of annual household income, these represent 2.44 per cent for PM10, 4.88 per cent for PM2.5, 3.46 per cent for O3 and 11.59 per cent for SO2. Our estimates of land valueâ€“pollution elasticities for PM10 (âˆ’0.26 and âˆ’ 0.58) are within range of hedonic estimates for total suspended particulate matter in US cities around the 1970s. The corresponding elasticities range from âˆ’ 0.55 to âˆ’ 0.84 for PM2.5, from âˆ’ 0.06 to âˆ’ 0.49 for O3 and from âˆ’ 0.11 to âˆ’ 0.34 for SO2.
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Working Paper: Are Land Values Related to Ambiet Air Pollution Levels? Hedonic Evidence from Mexico City (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:cup:endeec:v:24:y:2019:i:03:p:252-270_00
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