Main Title |
Identification of Preferences in Hedonic Models. Volume 1 of Benefits Analysis Using Indirect or Imputed Market Methods. |
Author |
McConnell, K. E. ;
Cropper, M. ;
Mendelsohn, R. ;
Phipps, T. T. ;
|
CORP Author |
Maryland Univ., College Park. Dept. of Agricultural and Resource Economics.;Environmental Protection Agency, Washington, DC. Office of Policy, Planning and Evaluation. |
Publisher |
Oct 89 |
Year Published |
1989 |
Report Number |
EPA-R-811043; EPA/230/10-89/068; |
Stock Number |
PB90-134651 |
Additional Subjects |
Economic models ;
Benefit cost analysis ;
Mathematical models ;
Housing studies ;
Market research ;
Economics ;
Prices ;
Preferences
|
Internet Access |
|
Holdings |
Library |
Call Number |
Additional Info |
Location |
Last Modified |
Checkout Status |
NTIS |
PB90-134651 |
Some EPA libraries have a fiche copy filed under the call number shown. |
|
07/26/2022 |
|
Collation |
126p |
Abstract |
The purpose of the report is 'to solve the identification problem in hedonic models'. The volume describes the circumstances under which the problem is solved and analyzes other issues consistent with the use of the hedonic model in benefit-cost analysis. The identification problem concerns the difficulties researchers encounter in trying to find the household's schedule of willingness to pay for various levels of attributes of a house (e.g., size of rooms, neighborhood characteristics, environmental quality), not just a small change in the attribute. The identification problem stems from the fact that observed hedonic prices reflect not only on the value of the attribute to the household but also on the distribution of households of various types, the scarcity of houses, and the distribution of housing characteristics in the stock of housing. The conclusion of the volume is that while it is conceptually possible to identify the hedonic model, it is not a good use of research resources. Further research into how the housing market works, the accuracy of marginal prices, and other issues which logically precede the identification problem should be pursued. |
Supplementary Notes |
See also Volume 2, PB90-134669. Sponsored by Environmental Protection Agency, Washington, DC. Office of Policy, Planning and Evaluation. |
Availability Notes |
Also available in set of 3 reports PC E99, PB90-134644. |
NTIS Title Notes |
Final rept. Jul 83-Mar 88. |
Category Codes |
96A; 96 |
NTIS Prices |
PC A07/MF A01 |
Primary Description |
400/02 |
Document Type |
NT |
Cataloging Source |
NTIS/MT |
Control Number |
005317329 |
Origin |
NTIS |
Type |
CAT |