Economic valuation of environmental quality using property auction data: A structural estimation approach

Tadao Hoshino, Hayato Nakanishi

研究成果: Article

抜粋

This study proposes a method to economically evaluate environmental quality using property auction data. Our approach is consistent with microeconomic auction theory and can directly estimate the value function from the data, a task that is often difficult when using conventional revealed preference methods such as the hedonic approach. We use a method of simulated moments to estimate the value function, which in turn is used to calculate the economic value of environmental quality changes.We apply this method to data on foreclosure property auctions in Tokyo in order to economically evaluate hypothetical improvements in neighborhood fire risks.

元の言語English
ページ(範囲)703-717
ページ数15
ジャーナルLand Economics
92
発行部数4
DOI
出版物ステータスPublished - 2016 1 1
外部発表Yes

ASJC Scopus subject areas

  • Environmental Science (miscellaneous)
  • Economics and Econometrics

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