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The Hedonic Method for Valuing Environmental Policies and Quality

  • Philip E. Graves
Reference work entry

Abstract

Benefit-cost analysts attempt to compare two states of the world, the status quo and a state in which a policy having benefits and costs is being contemplated. For environmental policies, this comparison is greatly complicated by the difficulty in inferring the values that individuals place on an increment to environmental quality. Unlike ordinary private goods, environmental goods are not directly exchanged in markets with observable prices. In this chapter, the hedonic approach to inferring the benefits of an environmental policy is examined.

Keywords

Environmental Policy Consumer Surplus Land Market Marginal Damage Environmental Amenity 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer-Verlag Berlin Heidelberg 2014

Authors and Affiliations

  1. 1.Department of EconomicsUniversity of ColoradoBoulderUSA

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