I intend to offer you the essence of cost benefit analysis and valuation methods for public policy and projects including revealed preference techniques for non-market goods, ordinal estimations for market goods and stated preference methods, such as contingent valuation, in environmental and ecological economics.
I intend to offer you the essence of cost benefit analysis and valuation
methods for public policy and projects including revealed preference techniques for non-market goods, ordinal estimations for market goods and stated preference methods, such as contingent valuation, in environmental and ecological economics.
1:April 16 intorduction
2:April 16 chapter 1 hedonic, TCM , CVM, CE
3:April 30 chapter 2 hedonic
4: May 7 chapter 3 overestiamtion thorem
5: May 14 chapter 4,5 accuracy of the thorem
6: May 21 chapter 6: CVM Contingent valuation methods and incentive compatibility
7: June 4 mid term exam
8: June 11 chapter 7
9: June 18 chapter 8
10: July 2 chapter 9 Expenditure functions and several measures
11: July 9 chapter 9 Several examples, review
12: July 16 test
13: July 23 review on test
14 July 30 review on test
Hidano, N (2002&2009) The Economic Valuation of the Environment and Public
Policy: A Hedonic Approach, Edward Elgar, 2nd print in 2009
CVM and compatibility
Donald Green, Karen Jacowitz, Daniel Kahneman, Daniel McFadden (1998) Referendum Contingent Valuation, Anchoring, and Willingness to Pay for Public Goods, Resource and Energy Economics, vol 20, issue 2, 85-116
Carson,Groves,List,Machina (2004) Probabilistic Influence and Supplemental Benefits: A Field Test of the Two Key Assumptions Underlying Stated Prefernces, A paper presented at 13th European Conference of Environmental and Resource Economists,Budapest Pere Riera(2004)Incentive Compatibility in Stated Preference Valuation Methods: Some Positive Results,A paper presented at 13 th Annual Conference of European Association of Environmental and Resource Economists
Hidano,Kato,Izumi (2005) Reciprocity, Consequentiality and Willingness-to-Pay in Contingent Valuation: An Experimental Panel Analysis on Climate Changes. European Association of Environmental and Resource Economists (EAERE) 14th Annual Conference, June 23-26,
Bremen, Germany, pp.1-22. Brookshire, DS, MA Thayer, WD Shulze, and RC d¡ÇArge (1982), Valuing Public Goods: A Comparison of Survey and Hedonic Approaches, American Economic Review, Vol.72, 165-193.
Hedonic approach : capitarization
Starrett, DA (1981), ¡ÈLand Value Capitalization in Local Public Finance,¡É Journal of Political Economy, Vol.89, No.2, 306?327.
Kanemoto, Y (1988), Hedonic Prices and the Benefits of Public Projects,Econometrica, Vol.56, 981-989.
Hidano,N (2005) Estimating the Benefits of the Non-marginal Provision of Environmental Goods by Hedonic Measures, DP05-3, Department of Social Engineering, Tokyo Institute of Technology.
Scotchmer, S (1985), Hedonic Prices and Cost/Benefit Analysis,Journal of Economic Theory, Vol.37, 55-75.
Scotchmer, S (1986), The Short Run and Long Run Benefits of Environmental Improvement,Journal of Public Economics, Vol.30, 61-81.
Sheppard, S (1999), Hedonic Analysis of Housing Markets, In Cheshire, P, E. Mills ed. Applied Urban Economics, Handbook of Regional and Urban Economics, Vol.3, Elsevier, 1596-1669.
Rosen, S (1974), Hedonic Prices and Implicit Markets, Product Differentiation in Pure Competition,Journal of Political Economy, Vol.82, 34-55.
Epple, D and H Sieg (1999),Estimating Equilibrium in Models of Local Jurisdictions, Journal of Political Economy, Vol.107, No.4, 645-681.
Sieg, H, VK Smith, HS Banzhaf, and R Walsh (2000), Estimating the General Equilibrium Benefits of Large Policy Changes: The Clean Air Act Revisited, NBER Working Paper 7744, NBER.
Ekeland, Ivar, James Heckman, and Lars Nesheim (2004)Identification and Estimation of Hedonic Models, The Journal of Political Economy, v.112, 2004, p. S60.
it is important for students who take this lecture to have basic knowledge
about undergraduate micro-economics.
Comment from lecturer
Office: W9-628 Office hours: about 30 minutes after each lecture