The Implicit Price of PM2.5 by Using Hedonic Model : The Case of Incheon and Gyunggido

• 발행기관: 한국자료분석학회
• 저자명: 이주석(Joo-Suk Lee) 이영수(Young Soo Lee) 양현석(Hyun-Seok Yang)
• 간행물 정보: 『Journal of The Korean Data Analysis Society (JKDAS)』Vol.17 No.5, 2357~2363쪽, 전체 7쪽
• 주제분류: 자연과학 > 통계학
• 파일형태: PDF
• 발행일자: 2015.10.30

영문 초록

Recently, unlike other air pollutants, the level of fine particle matter (PM2.5) levels have been increased radically. However, there has been few studies to estimate the value of PM2.5. Therefore, this study estimated the value of PM2.5 reduction by using Hedonic model and limited the regional scope to Gyunggido and Incheon. Futhermore, this study employed least median of squares which is robust to outlier. According to estimation results, the educational condition, access to convenience facilities, environmental condition and air quality influence the housing price. Furthermore, the increase of PM2.5 emission per 1 ton makes the housing price decreased by 2,040 won per 1㎡. This elasticity can be interpreted as the implicit price of PM2.5 per 1 ton. This study is expected to provide insight for both research and policy-making.

목차

1. Introduction

2. Data and Model

3. Estimation Results

4. Conclusion

References

키워드

PM2.5 Hedonic model Implicit price Housing price