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| Author: | Sieg, H. (et al.) |
| Title: | Estimating the general equilibrium benefits of large changes spatially delineated public goods |
| Journal: | International Economic Review
2004 : NOV, VOL. 45:4, p. 1047-1078 |
| Index terms: | Change Equilibrium theory Public goods Spatial economics |
| Language: | eng |
| Abstract: | This paper reports a new approach for measuring the general equilibrium willingness to pay for large changes in spatially delineated public goods such as air quality. The parameters of a locational equilibrium model are estimated and equilibria for alternative scenarios characterizing the availability of public goods within a system of communities. Welfare measures take into consideration the adjustments of households in equilibrium to nonmarginal changes in public goods. |
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