| Main Title |
Deriving Benefit Measures with Higher Precision: A Study of Economic Values of Air Quality. |
| Author |
Huang, J. C. ;
|
| CORP Author |
Environmental Protection Agency, Washington, DC. ;New Hampshire Univ., Durham. |
| Publisher |
Jan 2007 |
| Year Published |
2007 |
| Stock Number |
PB2007-108478 |
| Additional Subjects |
Air quality ;
Calibration ;
Economic analysis ;
Air pollution abatement ;
Benefits ;
Regression analysis ;
Statistical data ;
Hedonic property values ;
Energy demand ;
Energy forecasting ;
|
| Holdings |
| Library |
Call Number |
Additional Info |
Location |
Last
Modified |
Checkout
Status |
| NTIS |
PB2007-108478 |
Some EPA libraries have a fiche copy filed under the call number shown. |
|
07/26/2022 |
|
| Collation |
22p |
| Abstract |
A calibration strategy using ridge regression to generate more precise estimates for a particular parameter in a regression model is proposed. Formulae to compute the proposed ridge estimates from standard OLS results are provided. Marginal effects of air pollution on property values for nineteen published studies are recomputed. Results show that ridge estimates are superior to the OLS estimates under the mean squared error criterion in all nineteen studies. The same strategy could be used to re-estimate key parameters of interest in other applications such as price elasticities for demand forecasts or the value of a statistical life from hedonic wage regressions. |
