MEASURING THE BENEFITS OF AIR QUALITY IMPROVEMENT: A SPATIAL HEDONIC APPROACH

Chong Won Kim, Tim T. Phipps and Luc Anselin ()

No 20959, 1998 Annual meeting, August 2-5, Salt Lake City, UT from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: A spatial-econometric hedonic housing price model is estimated for the Seoul metropolitan area to measure the marginal value of improved air quality. Results showed that the spatial lag model fits best for both owner and renter households. Marginal WTP for a 4% improvement in air quality is about $3,200 for owners and $420 for renters.

Keywords: Environmental; Economics; and; Policy (search for similar items in EconPapers)
Pages: 13
Date: 1998
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Citations: View citations in EconPapers (1)

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Journal Article: Measuring the benefits of air quality improvement: a spatial hedonic approach (2003)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea98:20959

DOI: 10.22004/ag.econ.20959

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