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Jointly Estimating the Prices of Environmental Goods: St. Louis as a Case Study

Author

Listed:
  • Katherine Kiel

    (Department of Economics, College of the Holy Cross)

  • Jennifer Bowen

    (U.S. Environmental Protection Agency)

Abstract

Estimating the benefits of environmental regulations can be very difficult. Since environmental goods are generally not traded in markets, prices and quantities are not directly observed. However, researchers can used revealed preference techniques to uncover the prices individuals implicitly pay for such goods. This paper addresses two interesting questions. It studies the impact of including (or excluding) mulplitle environmental indicators in house value hedonic regressions. It also considers the possibility that environmental indicators are highly correlated with each other (an environmental justice issue) and the effect of that correlation on the estimated coefficients.

Suggested Citation

  • Katherine Kiel & Jennifer Bowen, 2001. "Jointly Estimating the Prices of Environmental Goods: St. Louis as a Case Study," Working Papers 0107, College of the Holy Cross, Department of Economics.
    • Handle: RePEc:hcx:wpaper:0107
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    Cited by:

    1. Katherine Kiel, 2006. "Environmental Contamination and House Values," Working Papers 0601, College of the Holy Cross, Department of Economics.

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