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The welfare loss associated to characteristics of the goods: application to housing policy

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  • Celia Bilbao
  • Amelia Bilbao
  • José Labeaga

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  • Celia Bilbao & Amelia Bilbao & José Labeaga, 2010. "The welfare loss associated to characteristics of the goods: application to housing policy," Empirical Economics, Springer, vol. 38(2), pages 305-323, April.
    • Handle: RePEc:spr:empeco:v:38:y:2010:i:2:p:305-323
    DOI: 10.1007/s00181-009-0267-9
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    References listed on IDEAS

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    1. Palmquist, Raymond B., 1992. "Valuing localized externalities," Journal of Urban Economics, Elsevier, vol. 31(1), pages 59-68, January.
    2. Ivar Ekeland & James J. Heckman & Lars Nesheim, 2004. "Identification and Estimation of Hedonic Models," Journal of Political Economy, University of Chicago Press, vol. 112(S1), pages 60-109, February.
    3. Ivar Ekeland & James J. Heckman & Lars Nesheim, 2002. "Identifying Hedonic Models," American Economic Review, American Economic Association, vol. 92(2), pages 304-309, May.
    4. repec:dau:papers:123456789/6486 is not listed on IDEAS
    5. Carlos Martins-Filho & Okmyung Bin, 2005. "Estimation of hedonic price functions via additive nonparametric regression," Empirical Economics, Springer, vol. 30(1), pages 93-114, January.
    6. Bonnetain, Philippe, 2003. "A hedonic price model for islands," Journal of Urban Economics, Elsevier, vol. 54(2), pages 368-377, September.
    7. Neary, J. P. & Roberts, K. W. S., 1980. "The theory of household behaviour under rationing," European Economic Review, Elsevier, vol. 13(1), pages 25-42, January.
    8. Brown, James N & Rosen, Harvey S, 1982. "On the Estimation of Structural Hedonic Price Models," Econometrica, Econometric Society, vol. 50(3), pages 765-768, May.
    9. Ohsfeldt, Robert L. & Smith, Barton A., 1990. "Calculating elasticities from structural parameters in implicit markets," Journal of Urban Economics, Elsevier, vol. 27(2), pages 212-221, March.
    10. Bilbao, Amelia & Bilbao, Celia & Labeaga, Jose M., 2007. "A method for evaluating the excess burden associated with characteristics of the goods," Economics Letters, Elsevier, vol. 96(2), pages 209-214, August.
    11. Cheshire, Paul & Sheppard, Stephen, 1998. "Estimating the Demand for Housing, Land, and Neighbourhood Characteristics," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 60(3), pages 357-382, August.
    12. Knight J. R. & Hill R. Carter & Sirmans C. F., 1993. "Estimation of Hedonic Housing Price Models Using Nonsample Information: A Monte Carlo Study," Journal of Urban Economics, Elsevier, vol. 34(3), pages 319-346, November.
    13. Arthur Lewbel, 2003. "A rational rank four demand system," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 18(2), pages 127-135.
    14. Salo, Sinikka, 1994. "Modelling the Finnish housing market," Economic Modelling, Elsevier, vol. 11(2), pages 250-265, April.
    15. James Banks & Richard Blundell & Arthur Lewbel, 1997. "Quadratic Engel Curves And Consumer Demand," The Review of Economics and Statistics, MIT Press, vol. 79(4), pages 527-539, November.
    16. Helen Tauchen & Ann Dryden Witte, 2001. "Estimating Hedonic Models: Implications of the Theory," NBER Technical Working Papers 0271, National Bureau of Economic Research, Inc.
    17. Hansen, Julia L. & Formby, John P. & Smith, W. James, 1996. "The Income Elasticity of Demand for Housing: Evidence from Concentration Curves," Journal of Urban Economics, Elsevier, vol. 39(2), pages 173-192, March.
    18. Deaton, Angus S & Muellbauer, John, 1980. "An Almost Ideal Demand System," American Economic Review, American Economic Association, vol. 70(3), pages 312-326, June.
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    Cited by:

    1. Manuel Landajo & Celia Bilbao & Amelia Bilbao, 2012. "Nonparametric neural network modeling of hedonic prices in the housing market," Empirical Economics, Springer, vol. 42(3), pages 987-1009, June.

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    More about this item

    Keywords

    Welfare loss; Heterogeneous good; Hedonic prices; Rationing; Quadratic demand model; Housing; D60; H21; H42;
    All these keywords.

    JEL classification:

    • D60 - Microeconomics - - Welfare Economics - - - General
    • H21 - Public Economics - - Taxation, Subsidies, and Revenue - - - Efficiency; Optimal Taxation
    • H42 - Public Economics - - Publicly Provided Goods - - - Publicly Provided Private Goods

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