Hedonic Prices, Property Values and Measuring Environmental Benefits: A Survey of the Issues

This paper provides a review of the theoretical basis and the assumptions required in order to use hedonic price equations derived from property value data to obtain measures of the prices and the inverse demand functions for environmental amenities such as air quality. It also includes a review and assessment of existing empirical applications of the technique to problems of air and water quality and urban noise. 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.