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Measuring The Benefits Of Air Quality Improvement: A Spatial Hedonic Approach

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  • Kim, Chong Won
  • Phipps, Tim T.
  • Anselin, Luc
Abstract
A spatial-econometric hedonic housing price model is estimated for the Seoul metropolitan area to measure the marginal value of improved air quality. Results showed that the spatial lag model fits best for both owner and renter households. Marginal WTP for a 4% improvement in air quality is about $3,200 for owners and $420 for renters.

Suggested Citation

  • Kim, Chong Won & Phipps, Tim T. & Anselin, Luc, 1998. "Measuring The Benefits Of Air Quality Improvement: A Spatial Hedonic Approach," 1998 Annual meeting, August 2-5, Salt Lake City, UT 20959, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  • Handle: RePEc:ags:aaea98:20959
    DOI: 10.22004/ag.econ.20959
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    Keywords

    Environmental Economics and Policy;

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