Factors Influencing Convergence of Survey and Market-Based Values of an Environmental Disamenity

Mississippi State University Agricultural Economics Working Paper No. 2001-011

33 Pages Posted: 8 Dec 2001

See all articles by Diane Hite

Diane Hite

Auburn University - Department of Agricultural Economics and Rural Sociology

Date Written: November 29, 2001

Abstract

A database is used that combines survey and real estate data to obtain willingness to pay (WTP) measures to avoid living in proximity to a landfill. Convergence of market-based measures from a hedonic price model and hypothetical measures from contingent valuation is investigated at the level of individual respondent, using a ratio of the two measures within a sample selection framework. The sample mechanism is based on zero vs. positive stated WTP. The impact of a variety of attitudinal and demographic characteristics is investigated.

Keywords: Hedonic Pricing, Contingent Valuation, Environmental Economics, Real Estate and Housing Markets

JEL Classification: Q24, R33, Q26, R31

Suggested Citation

Hite, Diane, Factors Influencing Convergence of Survey and Market-Based Values of an Environmental Disamenity (November 29, 2001). Mississippi State University Agricultural Economics Working Paper No. 2001-011, Available at SSRN: https://ssrn.com/abstract=292447 or http://dx.doi.org/10.2139/ssrn.292447

Diane Hite (Contact Author)

Auburn University - Department of Agricultural Economics and Rural Sociology ( email )

Comer Hall
Auburn, AL 36849
United States
334-844-5655 (Phone)
334-844-5639 (Fax)

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