Record Display for the EPA National Library Catalog


OLS Field Name OLS Field Data
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 ;
Library Call Number Additional Info Location Last
NTIS  PB2007-108478 Most EPA libraries have a fiche copy filed under the call number shown. Check with individual libraries about paper copy. 10/08/2007
Collation 22p
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.