Spatial Dimensions of Economic Valuation: A Comparison of Hedonic Models
Lozano, Nancy
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https://hdl.handle.net/2142/82999
Description
Title
Spatial Dimensions of Economic Valuation: A Comparison of Hedonic Models
Author(s)
Lozano, Nancy
Issue Date
2008
Doctoral Committee Chair(s)
Luc E. Anselin
Department of Study
Agricultural and Consumer Economics
Discipline
Agricultural and Consumer Economics
Degree Granting Institution
University of Illinois at Urbana-Champaign
Degree Name
Ph.D.
Degree Level
Dissertation
Keyword(s)
Economics, Agricultural
Language
eng
Abstract
Using the recently developed HAC estimator, this dissertation provides a better sense of the precision of the estimates of the MWTP form alternative models. Aggregate benefits for the SCAB region from a 0.1 ppb reduction in OZ levels add up to about 8 billion dollars if multiplier effects are taken into account in a nonlinear model. Even if only direct effects are considered, aggregate benefits sum up to 5 billion dollars.
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