Supply-Side Effects and Contingent Valuation Analysis

Peter Colwell and Joseph Trefzger

Journal of Real Estate Practice and Education, 2005, vol. 8, issue 1, 45-59

Abstract: Market surveys, and the accompanying valuation technique known as contingent valuation analysis, have gained increasing acceptance in estimating values of properties or property features, especially when parcels are affected by conditions perceived as undesirable. While earlier articles have noted problems with surveys and the importance of the marginal buyer in determining prices, this discussion examines the marginal buyer in the context of a clientele that responds negatively (or positively) to a particular condition. It then explains how the market’s supply side, which is typically omitted from contingent valuation, can be combined with demand side-based survey results so that both sides of the market are considered.

Date: 2005
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DOI: 10.1080/10835547.2005.12091612

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