VALUING RISK-REDUCING INTERVENTIONS WITH HEDONIC MODELS: THE CASE OF EROSION PROTECTION

This article extends the literature on economic valuation of public interventions that reduce environmental risk. We consider the case where risk-reducing interventions have different characteristics than the risk proxies used in hedonic regressions. We then demonstrate the importance of these considerations by reexamining an existing analysis of shoreline protection where we estimate risk using a latent variables model. The results show substantially different and arguably more plausible results.


Issue Date:
1996-07
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/31001
Published in:
Journal of Agricultural and Resource Economics, Volume 21, Number 1
Page range:
109-119
Total Pages:
11




 Record created 2017-04-01, last modified 2017-11-21

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