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Semiparametric hedonic price models: assessing the effects of agricultural nonpoint source pollution

Christophe Bontemps (), Michel Simioni and Y. Surry

Economics Working Paper Archive (Toulouse) from French Institute for Agronomy Research (INRA), Economics Laboratory in Toulouse (ESR Toulouse)

Abstract: In the area of environmental analysis using hedonic price models, we investigate the prerformance of various nonparametric and semiparametric specifications. The proposed model specifications are made up of two parts : a linear component for house characteristics and a non(semi) parametric component representing the nonlinear influence of environmental indications on house prices. We adopt a general-to-specific search procedure, based on recent specification tests comparing the proposed specifications with a fully nonparametric benchmark model, to select the best model specification. An application of these semiparametric models to rural districs indicates that pollution resulting from intensive livestock farming have a significant nonlinear impact on house prices. ...French Abstract : L'objectif de cet article est d'évaluer l'impact sur les prix des résidences de la pollution d'origine agricole en utilisant différentes spécifications semi paramétriques d'un modèle de prix hédoniques. Les spécifications proposées se décomposent en deux parties : une partie linéaire dans les caractéristiques des maisons et une partie non ou semi paramétrique capturant les effets non linéaires des indicateurs de pollution. Une application a un échantillon de ventes de résidences dans les communes rurales bretonnes montre que la pollution résultant de pratiques intensives dans l'élevage influe de façon significative et non linéaire sur les prix des maisons.

Keywords: HEDONIC PRICING; SEMIPARAMETRIC MODELS; SPECIFICATION TESTS; NONPOINT SOURCE POLLUTION; POLLUTION AGRICOLE; AGRICULTURE INTENSIVE; PRIX; TEST STATISTIQUE; ECONOMETRIE; MAISON INDIVIDUELLE; BRETAGNE (search for similar items in EconPapers)
JEL-codes: C14 Q0 R21 R32 (search for similar items in EconPapers)
Pages: 37 p.
Date: 2006
New Economics Papers: this item is included in nep-agr and nep-env
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Journal Article: Semiparametric hedonic price models: assessing the effects of agricultural nonpoint source pollution (2008) Downloads
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