You are not currently logged in.
Access JSTOR through your library or other institution:
If You Use a Screen ReaderThis content is available through Read Online (Free) program, which relies on page scans. Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
Hedonic Prices and the Benefits of Public Projects
Vol. 56, No. 4 (Jul., 1988), pp. 981-989
Published by: The Econometric Society
Stable URL: http://www.jstor.org/stable/1912708
Page Count: 9
Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
Preview not available
Scotchmer has shown that, even if the population is homogeneous, hedonic prices do not correctly measure long-run benefits of a large public project. This paper examines the direction of errors caused by the use of cross-sectional land rent differentials in benefit estimation. The short-run benefits with fixed lot size are also considered.
Econometrica © 1988 The Econometric Society