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METHODS DEVELOPMENT FOR ASSESSING AIR POLLUTION CONTROL BENEFITS. VOLUME IV. STUDIES ON PARTIAL EQUILIBRIUM APPROACHES TO VALUATION OF ENVIRONMENTAL AMENITIES
Citation:
Cropper, M., W. Porter, B. Hansen, R. Jones, AND J. Riley. METHODS DEVELOPMENT FOR ASSESSING AIR POLLUTION CONTROL BENEFITS. VOLUME IV. STUDIES ON PARTIAL EQUILIBRIUM APPROACHES TO VALUATION OF ENVIRONMENTAL AMENITIES. U.S. Environmental Protection Agency, Washington, D.C., EPA/600/5-79/001D.
Description:
The research presented in this volume of a five volume study of the economic benefits of air pollution control explores various facets of the two central project objectives that have not been given adequate attention in the previous volumes. The valuations developed in these previous volumes have all been based on a partial equilibrium framework. Volume IV considers the adjustments and changes in underlying assumptions the values would require if they were to be derived in a general equilibrium framework. A second purely theoretical paper examines the impact upon the aformentioned partial equilibrium valuations under variation in consumer uncertainty about the health hazards associated with various forms of consumption. A new model of the variations in wages for assorted occupations across cities is tested to establish an estimate of willingness to pay for environmental amenities. The volume concludes with a report of a small experiment intended to test a particular way to remove any biases that bidding game respondents have to distort their true valuations.