Demand for School Quality, Neighborhood Safety and Environmental Quality: Reflections from Real Estate Market

25 Pages Posted: 21 Sep 2005

See all articles by Gandhi R. Bhattarai

Gandhi R. Bhattarai

United Health Group

Diane Hite

Auburn University - Department of Agricultural Economics and Rural Sociology

David M. Brasington

University of Cincinnati - Department of Economics

Date Written: September 8, 2005

Abstract

A two-stage hedonic price and demand model was developed to estimate the willingness to pay for school quality, neighborhood safety and environmental quality in six Ohio metropolitan areas. Own price of demand ranges from inelastic for school quality to highly elastic for environmental quality and neighborhood safety. Environmental quality and neighborhood safety were found to be complementary to one another. However, school quality was found to be a substitute for both environmental quality and neighborhood safety.

Keywords: Hedonic model, school quality, neighborhood safety, environmental quality

JEL Classification: C31, H41, Q51

Suggested Citation

Bhattarai, Gandhi R. and Hite, Diane and Brasington, David M., Demand for School Quality, Neighborhood Safety and Environmental Quality: Reflections from Real Estate Market (September 8, 2005). Available at SSRN: https://ssrn.com/abstract=800887 or http://dx.doi.org/10.2139/ssrn.800887

Gandhi R. Bhattarai (Contact Author)

United Health Group ( email )

9900 Bren Road East
Minnetonka, MN 55343
United States
860-221-0355 (Phone)

Diane Hite

Auburn University - Department of Agricultural Economics and Rural Sociology ( email )

Comer Hall
Auburn, AL 36849
United States
334-844-5655 (Phone)
334-844-5639 (Fax)

David M. Brasington

University of Cincinnati - Department of Economics ( email )

Carl H. Lindner Hall 2925 Campus Green Drive
PO Box 0371
Cincinnati, OH 45221-0211
United States

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