The Hedonic Method: Value of Statistical Life, Wage Compensation, and Property Value Compensation

Philip Graves ()

Chapter 6 in Research Tools in Natural Resource and Environmental Economics, 2011, pp 189-213 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThe following sections are included:The Value of a Statistical Life (VSL)The Hedonic Valuation of Environmental QualityHedonic Methods: Wage CompensationHedonic Methods: Property Value or Rent CompensationWage and Property Value Differentials are not AlternativesA Graphical Exposition of the MultiMarket Hedonic MethodCan Single-Market Hedonic Studies Ever Produce Accurate Amenity Measures?Conclusions: Hedonic Analysis as Practiced is Biased Against the EnvironmentReferences

Keywords: Natural Resource Economics; Environmental Economics; Dynamic Analysis; Stochastic Analysis; Game Theory; Non-Market Valuation; Materials Balance Models; Econometric Estimation; Experimental Economic Models; Spatial Econometrics; Industrial Ecology; Hedonic Approach; Environmental Valuation; Economic Growth (search for similar items in EconPapers)
Date: 2011
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