Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/186697 
Year of Publication: 
1988
Series/Report no.: 
Working Paper No. 4
Publisher: 
Levy Economics Institute of Bard College, Annandale-on-Hudson, NY
Abstract: 
This paper applies an equilibrium quality theory for differentiated products to estimate the willingness to pay for improvements in the air quality of Chicago, Cleveland, Dallas, Houston, and Indianapolis. The empirical results show (i) that the structural approach and the standard non-structural approach give very different benefit figures even for small improvements in air quality, and (ii) that a uniform improvement in air quality implies significant distributional effects.
Document Type: 
Working Paper

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