The demand for air quality: evidence from the housing market in Bogotá, Colombia

Resultado de la investigación: Contribución a RevistaArtículo

3 Citas (Scopus)

Resumen

Identifying a demand function for air quality is a key input to calculate welfare measurements of pollution abatement policies. We defined intra-urban housing submarkets to apply a Second Stage hedonic pricing model that allowed us to identify an inverse demand function for PM10 reductions in Bogotá. The monthly benefits of compliance with the U.S. Environmental Protection Agency standard (50 μg/m3-annual average), and the far more stringent World Health Organization standard (20 μg/m3-annual average) are valued at US$12.16 and US$189.64 per household, respectively. These values, in turn, represent about 1.35 per cent and 21.04 per cent of the average household income. The hedonic model applied hereby shows that intra-urban housing submarkets are suitable for the identification of a demand function to be used by policy makers interested in evaluating non-marginal benefits (costs) from air quality improvements (deterioration).
Idioma originalEnglish (US)
Páginas (desde-hasta)121-138
Número de páginas17
PublicaciónEnvironment and Development Economics
Volumen23
N.º2
DOI
EstadoPublished - 2018

Huella dactilar

housing market
Colombia
urban housing
air quality
air
demand
housing
evidence
World Health Organization
household income
WHO
environmental protection
compliance
pricing
welfare
costs
Housing market
Demand function
Air quality
Values

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title = "The demand for air quality: evidence from the housing market in Bogot{\'a}, Colombia",
abstract = "Identifying a demand function for air quality is a key input to calculate welfare measurements of pollution abatement policies. We defined intra-urban housing submarkets to apply a Second Stage hedonic pricing model that allowed us to identify an inverse demand function for PM10 reductions in Bogot{\'a}. The monthly benefits of compliance with the U.S. Environmental Protection Agency standard (50 μg/m3-annual average), and the far more stringent World Health Organization standard (20 μg/m3-annual average) are valued at US$12.16 and US$189.64 per household, respectively. These values, in turn, represent about 1.35 per cent and 21.04 per cent of the average household income. The hedonic model applied hereby shows that intra-urban housing submarkets are suitable for the identification of a demand function to be used by policy makers interested in evaluating non-marginal benefits (costs) from air quality improvements (deterioration).",
author = "{Carriazo Osorio}, Fernando",
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The demand for air quality: evidence from the housing market in Bogotá, Colombia. / Carriazo Osorio, Fernando.

En: Environment and Development Economics, Vol. 23, N.º 2, 2018, p. 121-138.

Resultado de la investigación: Contribución a RevistaArtículo

TY - JOUR

T1 - The demand for air quality: evidence from the housing market in Bogotá, Colombia

AU - Carriazo Osorio, Fernando

PY - 2018

Y1 - 2018

N2 - Identifying a demand function for air quality is a key input to calculate welfare measurements of pollution abatement policies. We defined intra-urban housing submarkets to apply a Second Stage hedonic pricing model that allowed us to identify an inverse demand function for PM10 reductions in Bogotá. The monthly benefits of compliance with the U.S. Environmental Protection Agency standard (50 μg/m3-annual average), and the far more stringent World Health Organization standard (20 μg/m3-annual average) are valued at US$12.16 and US$189.64 per household, respectively. These values, in turn, represent about 1.35 per cent and 21.04 per cent of the average household income. The hedonic model applied hereby shows that intra-urban housing submarkets are suitable for the identification of a demand function to be used by policy makers interested in evaluating non-marginal benefits (costs) from air quality improvements (deterioration).

AB - Identifying a demand function for air quality is a key input to calculate welfare measurements of pollution abatement policies. We defined intra-urban housing submarkets to apply a Second Stage hedonic pricing model that allowed us to identify an inverse demand function for PM10 reductions in Bogotá. The monthly benefits of compliance with the U.S. Environmental Protection Agency standard (50 μg/m3-annual average), and the far more stringent World Health Organization standard (20 μg/m3-annual average) are valued at US$12.16 and US$189.64 per household, respectively. These values, in turn, represent about 1.35 per cent and 21.04 per cent of the average household income. The hedonic model applied hereby shows that intra-urban housing submarkets are suitable for the identification of a demand function to be used by policy makers interested in evaluating non-marginal benefits (costs) from air quality improvements (deterioration).

U2 - DOI: 10.1017/S1355770X18000050

DO - DOI: 10.1017/S1355770X18000050

M3 - Article

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JF - Environment and Development Economics

SN - 1355-770X

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