(WP 2007-02) Valuing Environmental Quality: A Space-based Strategy

This paper develops and applies a space-based strategy for overcoming the general problem of getting at the demand for non-market goods. It focuses specifically on evaluating one form of environmental quality, distance from EPA designated environmental hazards, via the single-family housing market in the Puget Sound region of Washington State. A spatial two stage hedonic price analysis is used to: (1) estimate the marginal implicit price of distance from air release sites, hazardous waste generators, hazardous waste handlers, superfund sites, and toxic release sites; and (2) estimate a series of demand functions describing the relationship between the price of distance and the quantity consumed. The analysis, which represents a major step forward in the valuation of environmental quality, reveals that the information needed to identify second-stage demand functions is hidden right in plain site — hanging in the aether of the regional housing market

(WP 2010-02) The Demand for Historic Preservation

Historic preservation is commonly used to protect old buildings and neighborhoods from deterioration. In 1981, the City of Milwaukee established a historic preservation commission to develop and maintain a local register of places with historical importance to the area. The commission also reviews all applications for historic status as well as any requests for exterior alterations. As such, there are numerous rules and restrictions that are imposed on property owners once it has been declared a historic site. Thus, while historic designation can serve to internalize the externalities in neighborhoods with historic buildings, it also imposes costs on homeowners who wish to make improvements to their homes. This paper uses a hedonic model to estimate the impact of historic preservation on the sale price of a single family home in the Milwaukee area. Preliminary results show that the impact of historic preservation is positive when it is significant, with the average impact at 26.6%. However, there was significant variation between districts, with the impact significantly positive in 13 of 22 districts used in the sample. Specifically, the positive impact ranged between 11% and 65%, holding other factors constant. None of the 22 districts had a negative and significant impact. An evaluation of spillover effects reveal that just over one third of them displayed positive and significant spillover effects, whereas 21% had negative and significant spillover effects. The remainder were insignificant. An important question is what factors influence this variability in historic preservation effects. The eventual goal of this research is to extend our preliminary analysis to two stages using a recently developed method that employs spatial econometric methods to solve the unique identification problems inherent in hedonic models (Carruthers and Clark, forthcoming in Journal of Regional Science). This will permit us to determine the specific factors that influence these premiums. While the spatial estimates presented in this preliminary work do not permit a two-stage model, we did explore whether implicit prices appear to be correlated with the household income and racial makeup of the neighborhoods in which they are located. The findings show little evidence that the implicit values of historic districts are correlated, but the implicit price associated with historic district spillovers was positively correlated with both neighborhood measures

(WP 2010-11) The Benefits of Environmental Improvement: Estimates From Space-time Analysis

This paper develops estimates of environmental improvement based on a two-stage hedonic price analysis of the single family housing market in the Puget Sound region of Washington State. The analysis — which focuses specifically on several EPA-designated environmental hazards and involves 226,918 transactions for 177,303 unique properties that took place between January 2001 and September 2009 — involves four steps: (i) ten hedonic price functions are estimated year-by-year, one for each year of the 2000s; (ii) the hedonic estimates are used to compute the marginal implicit price of distance from air release, superfund, and toxic release sites; (iii) the marginal implicit prices, which vary through time, are used to estimate a series of implicit demand functions describing the relationship between the price of distance and the quantity consumed; and, finally (iv) the demand estimates are compared to those obtained in other research and then used evaluate the potential scale of benefits associated with some basic environmental improvement scenarios. Overall, the analysis provides further evidence that it is possible to develop a structural model of implicit demand within a single housing market and suggests that the benefits of environmental improvement are substantial

Appraising proposals for water supply investments

The main objective of this paper is to discuss the feasibility and utility of economic appraisal of community water investments. In the first section the scope of current investments are detailed. In the second section we discuss the special problems associated with the proliferation of self-help water schemes. Public and private water investments together constitute an important commitment, and we explore the problem of judging whether this investment is at an appropriate level given national goals and available resources. It is evident that this difficult question cannot be satisfactorily answered until we have a more coherent understanding of the cost-effectiveness of individual schemes. Finally a set of criteria is suggested which may be used to obtain information about individual schemes. Application of these appraisal procedures will sharpen the judgement of decision makers making allocations within the sector. In aggregate this information will also be valuable to those concerned with resource allocations to the sector

The Demand for Historic Preservation

Historic preservation is commonly used to protect old buildings and neighborhoods from deterioration. In 1981, the City of Milwaukee established a historic preservation commission to develop and maintain a local register of places with historical importance to the area. The commission also reviews all applications for historic status as well as any requests for exterior alterations. As such, there are numerous rules and restrictions that are imposed on property owners once it has been declared a historic site. Thus, while historic designation can serve to internalize the externalities in neighborhoods with historic buildings, it also imposes costs on homeowners who wish to make improvements to their homes. This paper uses a hedonic model to estimate the impact of historic preservation on the sale price of a single family home in the Milwaukee area. Preliminary results show that the impact of historic preservation is positive when it is significant, with the average impact at 26.6%. However, there was significant variation between districts, with the impact significantly positive in 13 of 22 districts used in the sample. Specifically, the positive impact ranged between 11% and 65%, holding other factors constant. None of the 22 districts had a negative and significant impact. An evaluation of spillover effects reveal that just over one third of them displayed positive and signficant spillover effects, whereas 21% had negative and significant spillover effects. The remainder were insignificant. An important question is what factors influence this variability in historic preservation effects. The eventual goal of this research is to extend our preliminary analysis to two stages using a recently developed method that employs spatial econometric methods to solve the unique identification problems inherent in hedonic models (Carruthers and Clark, forthcoming in Journal of Regional Science). This will permit us to determine the specific factors that influence these premiums. While the spatial estimates presented in this preliminary work do not permit a two-stage model, we did explore whether implicit prices appear to be correlated with the household income and racial makeup of the neighborhoods in which they are located. The findings show little evidence that the implicit values of historic districts are correlated, but the implicit price associated with historic district spillovers was positively correlated with both neighborhood measures.Hedonic housing model, historic preservation district, Milwaukee

The Benefits of Environmental Improvement: Estimates From Space-time Analysis

This paper develops estimates of environmental improvement based on a two-stage hedonic price analysis of the single family housing market in the Puget Sound region of Washington State. The analysis — which focuses specifically on several EPA-designated environmental hazards and involves 226,918 transactions for 177,303 unique properties that took place between January 2001 and September 2009 — involves four steps: (i) ten hedonic price functions are estimated year-by-year, one for each year of the 2000s; (ii) the hedonic estimates are used to compute the marginal implicit price of distance from air release, superfund, and toxic release sites; (iii) the marginal implicit prices, which vary through time, are used to estimate a series of implicit demand functions describing the relationship between the price of distance and the quantity consumed; and, finally (iv) the demand estimates are compared to those obtained in other research and then used evaluate the potential scale of benefits associated with some basic environmental improvement scenarios. Overall, the analysis provides further evidence that it is possible to develop a structural model of implicit demand within a single housing market and suggests that the benefits of environmental improvement are substantial.Hedonic housing model, benefits, environmental improvement

The Impact of Transit Corridors on Residential Property Values

Most of the literature on transit corridors, such as superhighways and tunnels, focuses on the positive externality of transit access (e.g., interstate access, transit station) and fails to isolate the negative externality of the corridor itself. This empirical study examines two situations: one with both access benefits and negatives, and another without the access benefit. The findings reveal that proximity to the transit corridor alone without direct access conveys a negative impact on nearby housing values.

Integral correlation measures for multiparticle physics

We report on a considerable improvement in the technique of measuring multiparticle correlations via integrals over correlation functions. A modification of measures used in the characterization of chaotic dynamical sytems permits fast and flexible calculation of factorial moments and cumulants as well as their differential versions. Higher order correlation integral measurements even of large multiplicity events such as encountered in heavy ion collisons are now feasible. The change from ``ordinary'' to ``factorial'' powers may have important consequences in other fields such as the study of galaxy correlations and Bose-Einstein interferometry.Comment: 23 pages, 6 tar-compressed uuencoded PostScript figures appended, preprint TPR-92-4

Chem-News - An On-Line Pesticide Information Program

Computerization of pesticide information is rapidly becoming a necessity as regulatory agencies expand their activities through enforcement, monitoring, and certification of pesticide applicators. Educational institutions responsible for providing pesticide information and pesticide applicator training for certification must also expand their capabilities for immediate updating and faster retrieval. Two programs at Cornell University, the Chemical-Pesticides Program and the Pesticide Impact Assessment Program (PIAP), are presently involved in developing on-line pesticide information for researchers, extension personnel, and regulatory agencies, as well as for those using pesticides

The [4+2]‐Cycloaddition of α‐Nitrosoalkenes with Thiochalcones as a Prototype of Periselective Hetero‐Diels–Alder Reactions—Experimental and Computational Studies

The [4+2]‐cycloadditions of α‐nitrosoalkenes with thiochalcones occur with high selectivity at the thioketone moiety of the dienophile providing styryl‐substituted 4H‐1,5,2‐oxathiazines in moderate to good yields. Of the eight conceivable hetero‐Diels–Alder adducts only this isomer was observed, thus a prototype of a highly periselective and regioselective cycloaddition has been identified. Analysis of crude product mixtures revealed that the α‐nitrosoalkene also adds competitively to the thioketone moiety of the thiochalcone dimer affording bis‐heterocyclic [4+2]‐cycloadducts. The experiments are supported by high‐level DFT calculations that were also extended to related hetero‐Diels–Alder reactions of other nitroso compounds and thioketones. These calculations reveal that the title cycloadditions are kinetically controlled processes confirming the role of thioketones as superdienophiles. The computational study was also applied to the experimentally studied thiochalcone dimerization, and showed that the 1,2‐dithiin and 2H‐thiopyran isomers are in equilibrium with the monomer. Again, the DFT calculations indicate kinetic control of this process