Quality Adjustment for Spatially-Delineated Public Goods: Theory and Application to Cost-of-Living Indices in Los Angeles
Author
Abstract
Suggested Citation
Download full text from publisher
Other versions of this item:
- Banzhaf, H. Spencer, 2002. "Quality Adjustment for Spatially-Delineated Public Goods: Theory and Application to Cost-of-Living Indices in Los Angeles," Discussion Papers 10833, Resources for the Future.
References listed on IDEAS
- Raymond B. Palmquist & Adis Israngkura, 1999. "Valuing Air Quality With Hedonic and Discrete Choice Models," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 81(5), pages 1128-1133.
- Fisher, Franklin M. & Shell, Karl, 1972. "The Economic Theory of Price Indices," Elsevier Monographs, Elsevier, edition 1, number 9780122577505 edited by Shell, Karl.
- Sandra E. Black, 1999.
"Do Better Schools Matter? Parental Valuation of Elementary Education,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 114(2), pages 577-599.
- Sandra E. Black, 1997. "Do better schools matter? Parental valuation of elementary education," Research Paper 9729, Federal Reserve Bank of New York.
- Hazilla, Michael & Kopp, Raymond J, 1990. "Social Cost of Environmental Quality Regulations: A General Equilibrium Analysis," Journal of Political Economy, University of Chicago Press, vol. 98(4), pages 853-873, August.
- Nechyba, Thomas J. & Strauss, Robert P., 1998.
"Community choice and local public services: A discrete choice approach,"
Regional Science and Urban Economics, Elsevier, vol. 28(1), pages 51-73, January.
- Thomas J. Nechyba & Robert P. Strauss, 1997. "Community Choice and Local Public Services: A Discrete Choice Approach," NBER Working Papers 5966, National Bureau of Economic Research, Inc.
- Spencer Banzhaf, H., 2005.
"Green price indices,"
Journal of Environmental Economics and Management, Elsevier, vol. 49(2), pages 262-280, March.
- Banzhaf, H. Spencer, 2002. "Green Price Indices," RFF Working Paper Series dp-02-09-, Resources for the Future.
- Banzhaf, H. Spencer, 2002. "Green Price Indices," Discussion Papers 10538, Resources for the Future.
- Aviv Nevo, 2003.
"New Products, Quality Changes, and Welfare Measures Computed from Estimated Demand Systems,"
The Review of Economics and Statistics, MIT Press, vol. 85(2), pages 266-275, May.
- Aviv Nevo, 2001. "New Products, Quality Changes and Welfare Measures Computed From Estimated Demand Systems," NBER Working Papers 8425, National Bureau of Economic Research, Inc.
- Timothy F. Bresnahan & Robert J. Gordon, 1996. "The Economics of New Goods," NBER Books, National Bureau of Economic Research, Inc, number bres96-1, June.
- O'Sullivan,Arthur & Sexton,Terri A. & Sheffrin,Steven M., 2007.
"Property Taxes and Tax Revolts,"
Cambridge Books,
Cambridge University Press, number 9780521035996, January.
- O'Sullivan,Arthur & Sexton,Terri A. & Sheffrin,Steven M., 1995. "Property Taxes and Tax Revolts," Cambridge Books, Cambridge University Press, number 9780521461597, January.
- Hausman, Jerry, 1999.
"Cellular Telephone, New Products, and the CPI,"
Journal of Business & Economic Statistics, American Statistical Association, vol. 17(2), pages 188-194, April.
- Jerry Hausman, 1997. "Cellular Telephone, New Products and the CPI," NBER Working Papers 5982, National Bureau of Economic Research, Inc.
- David M. Cutler & Mark McClellan & Joseph P. Newhouse & Dahlia Remler, 1998. "Are Medical Prices Declining? Evidence from Heart Attack Treatments," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 113(4), pages 991-1024.
- Joseph A. Herriges & Catherine L. Kling, 1999.
"Nonlinear Income Effects in Random Utility Models,"
The Review of Economics and Statistics, MIT Press, vol. 81(1), pages 62-72, February.
- Herriges, Joseph A. & Kling, Catherine L., 1999. "Nonlinear Income Effects in Random Utility Models," Staff General Research Papers Archive 1494, Iowa State University, Department of Economics.
- Herriges, Joseph A. & Kling, Catherine L., 1999. "Nonlinear Income Effects in Random Utility Models," ISU General Staff Papers 199902010800001017, Iowa State University, Department of Economics.
- Edward R. Morey & Robert D. Rowe & Michael Watson, 1993. "A Repeated Nested-Logit Model of Atlantic Salmon Fishing," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 75(3), pages 578-592.
- Quigley, John M., 1985. "Consumer choice of dwelling, neighborhood and public services," Regional Science and Urban Economics, Elsevier, vol. 15(1), pages 41-63, February.
- Gillingham, Robert, 1983. "Measuring the Cost of Shelter for Homeowners: Theoretical and Empirical Considerations," The Review of Economics and Statistics, MIT Press, vol. 65(2), pages 254-265, May.
- Karl E. Case & Robert J. Shiller, 1994. "A decade of boom and bust in the prices of single-family homes: Boston and Los Angeles, 1983 to 1993," New England Economic Review, Federal Reserve Bank of Boston, issue Mar, pages 40-51.
- Amil Petrin, 2001. "Quantifying the Benefits of New Products: The Case of the Minivan," NBER Working Papers 8227, National Bureau of Economic Research, Inc.
- Nordhaus, William D, 1999. "Beyond the CPI: An Augmented Cost-of-Living Index," Journal of Business & Economic Statistics, American Statistical Association, vol. 17(2), pages 182-187, April.
- David M. Cutler & Mark McClellan & Joseph P. Newhouse & Dahlia Remler, 1996. "Are Medical Prices Declining?," NBER Working Papers 5750, National Bureau of Economic Research, Inc.
- Chattopadhyay, Sudip, 2000. "The effectiveness of McFaddens's nested logit model in valuing amenity improvement," Regional Science and Urban Economics, Elsevier, vol. 30(1), pages 23-43, January.
- David Revelt & Kenneth Train, 1998. "Mixed Logit With Repeated Choices: Households' Choices Of Appliance Efficiency Level," The Review of Economics and Statistics, MIT Press, vol. 80(4), pages 647-657, November.
- Robert W. Fogel, 1999. "Catching Up with the Economy," American Economic Review, American Economic Association, vol. 89(1), pages 1-21, March.
- Pollak, Robert A., 1989. "The Theory of the Cost-of-Living Index," OUP Catalogue, Oxford University Press, number 9780195058703.
- Holger Sieg & V. Kerry Smith & Spencer Banzhaf & Randy Walsh, 2000. "Using Locational Equilibrium Models to Evaluate Housing Price Indexes," NBER Working Papers 7934, National Bureau of Economic Research, Inc.
- Willig, Robert D., 1978. "Incremental consumer's surplus and hedonic price adjustment," Journal of Economic Theory, Elsevier, vol. 17(2), pages 227-253, April.
- Blomquist, Glenn C & Berger, Mark C & Hoehn, John P, 1988. "New Estimates of Quality of Life in Urban Areas," American Economic Review, American Economic Association, vol. 78(1), pages 89-107, March.
- Smith, V Kerry & Huang, Ju-Chin, 1995. "Can Markets Value Air Quality? A Meta-analysis of Hedonic Property Value Models," Journal of Political Economy, University of Chicago Press, vol. 103(1), pages 209-227, February.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Spencer Banzhaf, H., 2005.
"Green price indices,"
Journal of Environmental Economics and Management, Elsevier, vol. 49(2), pages 262-280, March.
- Banzhaf, H. Spencer, 2002. "Green Price Indices," Discussion Papers 10538, Resources for the Future.
- Banzhaf, H. Spencer, 2002. "Green Price Indices," RFF Working Paper Series dp-02-09-, Resources for the Future.
- Wong, Maisy, 2010. "The Relationship between Marginal Willingness-to-Pay in the Hedonic and Discrete Choice Models," MPRA Paper 51218, University Library of Munich, Germany.
- H. Spencer Banzhaf & V. Kerry Smith, 2007.
"Meta-analysis in model implementation: choice sets and the valuation of air quality improvements,"
Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 22(6), pages 1013-1031.
- Banzhaf, H. Spencer & Smith, V. Kerry, 2003. "Meta Analysis in Model Implementation: Choice Sets and the Valuation of Air Quality Improvements," Discussion Papers 10453, Resources for the Future.
- Smith, V. Kerry & Banzhaf, H. Spencer, 2003. "Meta Analysis in Model Implementation: Choice Sets and the Valuation of Air Quality Improvements," RFF Working Paper Series dp-03-61, Resources for the Future.
- Wong, Maisy, 2018. "A tractable approach to compare the hedonic and discrete choice frameworks," Journal of Housing Economics, Elsevier, vol. 41(C), pages 135-141.
- Smith, V. Kerry & Banzhaf, H. Spencer, 2007. "Quality adjusted price indexes and the Willig condition," Economics Letters, Elsevier, vol. 94(1), pages 43-48, January.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Spencer Banzhaf, H., 2005.
"Green price indices,"
Journal of Environmental Economics and Management, Elsevier, vol. 49(2), pages 262-280, March.
- Banzhaf, H. Spencer, 2002. "Green Price Indices," Discussion Papers 10538, Resources for the Future.
- Banzhaf, H. Spencer, 2002. "Green Price Indices," RFF Working Paper Series dp-02-09-, Resources for the Future.
- Banzhaf, H. Spencer & Farooque, Omar, 2013.
"Interjurisdictional housing prices and spatial amenities: Which measures of housing prices reflect local public goods?,"
Regional Science and Urban Economics, Elsevier, vol. 43(4), pages 635-648.
- H. Spencer Banzhaf & Omar Farooque, 2012. "Interjurisdictional Housing Prices and Spatial Amenities: Which Measures of Housing Prices Reflect Local Public Goods?," NBER Working Papers 17809, National Bureau of Economic Research, Inc.
- Palmquist, Raymond B., 2006. "Property Value Models," Handbook of Environmental Economics, in: K. G. Mäler & J. R. Vincent (ed.), Handbook of Environmental Economics, edition 1, volume 2, chapter 16, pages 763-819, Elsevier.
- H. Spencer Banzhaf & V. Kerry Smith, 2007.
"Meta-analysis in model implementation: choice sets and the valuation of air quality improvements,"
Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 22(6), pages 1013-1031.
- Banzhaf, H. Spencer & Smith, V. Kerry, 2003. "Meta Analysis in Model Implementation: Choice Sets and the Valuation of Air Quality Improvements," Discussion Papers 10453, Resources for the Future.
- Smith, V. Kerry & Banzhaf, H. Spencer, 2003. "Meta Analysis in Model Implementation: Choice Sets and the Valuation of Air Quality Improvements," RFF Working Paper Series dp-03-61, Resources for the Future.
- Lee, Han Bum & McNamara, Paul E., 2017. "Deconcentrating the poor via public housing policy: What really matters?," Socio-Economic Planning Sciences, Elsevier, vol. 59(C), pages 67-78.
- Constant Tra, 2009. "Title: A Discrete Choice Equilibrium Approach to Valuing Large Environmental Changes," Working Papers 0922, University of Nevada, Las Vegas , Department of Economics.
- Patrick Bayer & Fernando Ferreira & Robert McMillan, 2007.
"A Unified Framework for Measuring Preferences for Schools and Neighborhoods,"
Journal of Political Economy, University of Chicago Press, vol. 115(4), pages 588-638, August.
- Bayer, Patrick & Ferreira, Fernando & McMillan, Robert, 2003. "A Unified Framework for Measuring Preferences for Schools and Neighborhoods," Center Discussion Papers 28513, Yale University, Economic Growth Center.
- Patrick Bayer & Fernando Ferreira & Robert McMillan, 2007. "A Unified Framework for Measuring Preferences for Schools and Neighborhoods," Working Papers 07-27, Center for Economic Studies, U.S. Census Bureau.
- Patrick Bayer & Fernando Ferreira & Robert McMillan, 2007. "A Unified Framework for Measuring Preferences for Schools and Neighborhoods," NBER Working Papers 13236, National Bureau of Economic Research, Inc.
- Christian A. L. Hilber, 2017.
"The Economic Implications of House Price Capitalization: A Synthesis,"
Real Estate Economics, American Real Estate and Urban Economics Association, vol. 45(2), pages 301-339, April.
- Christian A. L. Hilber, 2011. "The Economics Implications of House Price Capitalization: A Synthesis," SERC Discussion Papers 0091, Centre for Economic Performance, LSE.
- Hilber, Christian A. L., 2017. "The economic implications of house price capitalization: a synthesis," LSE Research Online Documents on Economics 62118, London School of Economics and Political Science, LSE Library.
- Hilber, Christian A. L., 2015. "The economic implications of house price capitalization: a synthesis," LSE Research Online Documents on Economics 61774, London School of Economics and Political Science, LSE Library.
- Ernst R. Berndt & David M. Cutler & Richard Frank & Zvi Griliches & Joseph P. Newhouse & Jack E. Triplett, 2001.
"Price Indexes for Medical Care Goods and Services -- An Overview of Measurement Issues,"
NBER Chapters, in: Medical Care Output and Productivity, pages 141-200,
National Bureau of Economic Research, Inc.
- Ernst R. Berndt & David M. Cutler & Richard G. Frank & Zvi Griliches & Joseph P. Newhouse, 1998. "Price Indexes for Medical Care Goods and Services: An Overview of Measurement Issues," NBER Working Papers 6817, National Bureau of Economic Research, Inc.
- Ernst R. Berndt & David M. Cutler & Richard G. Frank & Zvi Griliches & Joseph P. Newhouse & Jack E. Triplett, 1998. "Price Indexes for Medical Care Goods and Services: An Overview of Measurement Issues," Harvard Institute of Economic Research Working Papers 1851, Harvard - Institute of Economic Research.
- Stephen J. Redding & David E. Weinstein, 2016.
"A unified approach to estimating demand and welfare,"
CEP Discussion Papers
dp1445, Centre for Economic Performance, LSE.
- Redding, Stephen J. & Weinstein, David E., 2016. "A unified approach to estimating demand and welfare," LSE Research Online Documents on Economics 67681, London School of Economics and Political Science, LSE Library.
- Redding, Stephen & Weinstein, David, 2016. "A Unified Approach to Estimating Demand and Welfare," CEPR Discussion Papers 11421, C.E.P.R. Discussion Papers.
- Carlsen, Fredrik & Langset, Bjørg & Rattsø, Jørn & Stambøl, Lasse, 2009.
"Using survey data to study capitalization of local public services,"
Regional Science and Urban Economics, Elsevier, vol. 39(6), pages 688-695, November.
- Fredrik Carlsen & Jørn Rattsø & Bjørg Langset & Lasse Stambøl, 2006. "Using survey data to study capitalization of local public services," Working Paper Series 8106, Department of Economics, Norwegian University of Science and Technology.
- Constant I. Tra & Anna Lukemeyer & Helen Neill, 2013. "Evaluating The Welfare Effects Of School Quality Improvements: A Residential Sorting Approach," Journal of Regional Science, Wiley Blackwell, vol. 53(4), pages 607-630, October.
- Reis, Ricardo, 2005. "A cost-of-living dynamic price index, with an application to indexing retirement accounts," CEPR Discussion Papers 5394, C.E.P.R. Discussion Papers.
- Smith, V. Kerry, 2000. "JEEM and Non-market Valuation: 1974-1998," Journal of Environmental Economics and Management, Elsevier, vol. 39(3), pages 351-374, May.
- Pascal Beckers & Sanne Boschman, 2019. "Residential choices of foreign highly skilled workers in the Netherlands and the role of neighbourhood and urban regional characteristics," Urban Studies, Urban Studies Journal Limited, vol. 56(4), pages 760-777, March.
- Patrick Bayer & Robert McMillan, 2005. "Racial Sorting and Neighborhood Quality," NBER Working Papers 11813, National Bureau of Economic Research, Inc.
- Austan Goolsbee & Peter J. Klenow, 2006.
"Valuing Consumer Products by the Time Spent Using Them: An Application to the Internet,"
American Economic Review, American Economic Association, vol. 96(2), pages 108-113, May.
- Austan Goolsbee & Peter J. Klenow, 2006. "Valuing Consumer Products by the Time Spent Using Them: An Application to the Internet," NBER Working Papers 11995, National Bureau of Economic Research, Inc.
- Austan Goolsbee & Peter J. Klenow, 2006. "Valuing Consumer Products by the Time Spent Using Them: An Application to the Internet," Discussion Papers 05-010, Stanford Institute for Economic Policy Research.
- Nicolai V. Kuminoff & V. Kerry Smith & Christopher Timmins, 2010. "The New Economics of Equilibrium Sorting and its Transformational Role for Policy Evaluation," NBER Working Papers 16349, National Bureau of Economic Research, Inc.
- Ricardo Reis, 2005. "A Dynamic Measure of Inflation," NBER Working Papers 11746, National Bureau of Economic Research, Inc.
- Kahn, Matthew E. & Walsh, Randall, 2015.
"Cities and the Environment,"
Handbook of Regional and Urban Economics, in: Gilles Duranton & J. V. Henderson & William C. Strange (ed.), Handbook of Regional and Urban Economics, edition 1, volume 5, chapter 0, pages 405-465,
Elsevier.
- Matthew E. Kahn & Randall Walsh, 2014. "Cities and the Environment," NBER Working Papers 20503, National Bureau of Economic Research, Inc.
More about this item
Keywords
air quality; discrete choice models; green accounting; nonmarket valuation; price inde;All these keywords.
JEL classification:
- C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
- D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
- D60 - Microeconomics - - Welfare Economics - - - General
- E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
- H40 - Public Economics - - Publicly Provided Goods - - - General
- R10 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General
NEP fields
This paper has been announced in the following NEP Reports:- NEP-DCM-2006-01-24 (Discrete Choice Models)
- NEP-MAC-2006-01-24 (Macroeconomics)
- NEP-PBE-2006-01-24 (Public Economics)
- NEP-URE-2006-01-24 (Urban and Real Estate Economics)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rff:dpaper:dp-02-10-. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Resources for the Future (email available below). General contact details of provider: https://edirc.repec.org/data/rffffus.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.