The Hedonic Approach: No Panacea for Valuing Water Quality Changes

The hedonic approach has been advanced recently as an important tool for assessing the value of non-market environmental attributes. In its most usual form, the method involves an attempt econometrically to capture differential prices for homes attributable to variations in the environmental characteristic. This technique has been applied with success for a variety of attributes - most notably the study of air pollution. However, the case studies reported here for water quality valuation were much less successful. We advance several reasons why the hedonic approach may be ill-suited to measuring the value of water quality.

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Journal of the Northeastern Agricultural Economics Council, Volume 12, Number 1
Journal of the Northeastern Agricultural Economics Council
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 Record created 2017-04-01, last modified 2018-01-22

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