Economic Valuation of Environmental Quality Using Property Auction Data: A Structural Estimation Approach
提出一种基于房产拍卖数据的经济估值方法，该方法与微观拍卖理论一致，能直接估计价值函数，并应用于东京法拍房数据评估火灾风险改善的经济价值。
This study proposes a method to economically evaluate environmental quality using property auction data. Our approach is consistent with microeconomic auction theory and can directly estimate the value function from the data, a task that is often difficult when using conventional revealed preference methods such as the hedonic approach. We use a method of simulated moments to estimate the value function, which in turn is used to calculate the economic value of environmental quality changes. We apply this method to data on foreclosure property auctions in Tokyo in order to economically evaluate hypothetical improvements in neighborhood fire risks. <i></i>