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 consi...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Western Agricultural Economics Association
1996-07-01
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| Series: | Journal of Agricultural and Resource Economics |
| Subjects: | |
| Online Access: | https://ageconsearch.umn.edu/record/31001 |
| _version_ | 1819268279889297408 |
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| author | Jeffrey H. Dorfman Andrew G. Keeler Warren Kriesel |
| author_facet | Jeffrey H. Dorfman Andrew G. Keeler Warren Kriesel |
| author_sort | Jeffrey H. Dorfman |
| collection | DOAJ |
| description | 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. |
| first_indexed | 2024-12-23T21:30:33Z |
| format | Article |
| id | doaj.art-4500827c9c8a42a4bf84ea313cb5e85b |
| institution | Directory Open Access Journal |
| issn | 1068-5502 2327-8285 |
| language | English |
| last_indexed | 2024-12-23T21:30:33Z |
| publishDate | 1996-07-01 |
| publisher | Western Agricultural Economics Association |
| record_format | Article |
| series | Journal of Agricultural and Resource Economics |
| spelling | doaj.art-4500827c9c8a42a4bf84ea313cb5e85b2022-12-21T17:30:29ZengWestern Agricultural Economics AssociationJournal of Agricultural and Resource Economics1068-55022327-82851996-07-0121110911910.22004/ag.econ.3100131001Valuing Risk-Reducing Interventions with Hedonic Models: The Case of Erosion ProtectionJeffrey H. DorfmanAndrew G. KeelerWarren KrieselThis 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.https://ageconsearch.umn.edu/record/31001hedonicsriskvaluation |
| spellingShingle | Jeffrey H. Dorfman Andrew G. Keeler Warren Kriesel Valuing Risk-Reducing Interventions with Hedonic Models: The Case of Erosion Protection Journal of Agricultural and Resource Economics hedonics risk valuation |
| title | Valuing Risk-Reducing Interventions with Hedonic Models: The Case of Erosion Protection |
| title_full | Valuing Risk-Reducing Interventions with Hedonic Models: The Case of Erosion Protection |
| title_fullStr | Valuing Risk-Reducing Interventions with Hedonic Models: The Case of Erosion Protection |
| title_full_unstemmed | Valuing Risk-Reducing Interventions with Hedonic Models: The Case of Erosion Protection |
| title_short | Valuing Risk-Reducing Interventions with Hedonic Models: The Case of Erosion Protection |
| title_sort | valuing risk reducing interventions with hedonic models the case of erosion protection |
| topic | hedonics risk valuation |
| url | https://ageconsearch.umn.edu/record/31001 |
| work_keys_str_mv | AT jeffreyhdorfman valuingriskreducinginterventionswithhedonicmodelsthecaseoferosionprotection AT andrewgkeeler valuingriskreducinginterventionswithhedonicmodelsthecaseoferosionprotection AT warrenkriesel valuingriskreducinginterventionswithhedonicmodelsthecaseoferosionprotection |