- Series Information
- List of Contributors
- Introduction: Land as an Integrating Theme in Economics
- Integrating Regional Economic Development Analysis and Land Use Economics
- Technology Adoption and Land Use
- Are Large Metropolitan Areas Still Viable?
- Modeling the Land Use Change with Biofuels
- Modeling the Determinants of Farmland Values in the United States
- Land Use and Sustainable Economic Development: Developing World
- The Economics of Wildlife Conservation
- Connecting Ecosystem Services to Land Use: Implications for Valuation and Policy
- Land Use and Climate Change
- Land Use, Climate Change, and Ecosystem Services
- Fire: An Agent and a Consequence of Land Use Change
- Land Use and Municipal Profiles
- An Assessment of Empirical Methods for Modeling Land Use
- Equilibrium Sorting Models of Land Use and Residential Choice
- Landscape Simulations with Econometric-Based Land Use Models
- An Economic Perspective on Agent-Based Models of Land Use and Land Cover Change
- Spatial Econometric Modeling of Land Use Change
- Using Quasi-Experimental Methods to Evaluate Land Policies: Application to Maryland’s Priority Funding Legislation
- Applying Experiments to Land Economics: Public Information and Auction Efficiency in Ecosystem Service Markets
- Open Space Preservation: Direct Controls and Fiscal Incentives
- Land Conservation in the United States
- European Agri-Environmental Policy: The Conservation and Re-Creation of Cultural Landscapes
- Agri-Environmental Policies: A Comparison of US and EU Experiences
- Stigmatized Sites and Urban Brownfield Redevelopment
- Regulatory Takings
- Eminent Domain and the Land Assembly Problem
- Future Research Directions in Land Economics
- Subject Index
Abstract and Keywords
Equilibrium sorting models of household location choice provide a framework for understanding the interactions among people, markets, and spatially delineated amenities. Sorting models begin by characterizing the spatial landscape and household preferences. Utility-maximizing location choices are expressed as a function of the characteristics of people, houses, and communities, as well as of structural parameters describing latent preferences. This relationship is then inverted, using the logic of revealed preference to characterize the distribution of household preferences for amenities. Estimation results are used to calculate the willingness to pay for changes in landscape amenities and to predict how people and markets will adjust to counterfactual policies. This chapter aims to make sorting models accessible to economists who are new to the literature and to clarify their connection to the reduced form models of hedonic equilibria that have traditionally been used for “back of the envelope” policy analysis.
H. Allen Klaiber is Assistant Professor in the Department of Agricultural, Environmental, and Development Economics at the Ohio State University.
Nicolai V. Kuminoff is Assistant Professor in the Department of Economics at Arizona State University.
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