The Statistical Basis of Valuation: The Hedonic House Price Model

Abstract

This book is a revised and expanded edition of Colin Price’s seminal original publication, providing a richly comprehensive and up-to-date coverage of landscape economics. Chapters address key issues like natural resources and environmental economics, while presenting a wide and integrative view of aesthetic, psychological, social and political perspectives, and applying a critical use of economic concepts and challenges to different schools of thought on the landscape. This new edition includes new ideas and critiques on environmental valuation; more focused critiques of stated preference methods, political alternatives to economic valuation, and of the rationale of discounting future values; and, new evaluative techniques, particularly price premia for products with a landscape provenance. The updates are a major contribution to the growing literature in the field.