Suchergebnisse

AbstractWe estimate the demand for food waste within the household using observational data of food stock usage and meal consumption, the net of which forms a proxy for unconsumed food. We find that food waste is a luxury good with an expenditure elasticity ranging from 1.1 to 1.4. The wasting of food is also rather responsive to price: our own‐price elasticity estimates range from ‐1.9 to ‐1.3. We further find differences in the demand for food waste related to household membership structure, human capital, joint preparation of meals within the household, and geographic location.

AbstractPrevious research suggests that coastal housing values capitalize the quality of nearby beaches but note potential problems related to measurement errors and reverse causation due to beach replenishment. We offer the first hedonic analysis of communities not engaged in beach replenishment, obviating concern over reverse causation. Statistical evidence supports hedonic specifications that account for proximity to the shoreline, though marginal willingness to pay (WTP) varies with the specification. Using an instrumental variables approach, we find significant downward bias in ordinary least squares estimates of marginal WTP derived from the sale of vacant lots compared to two‐stage least squares estimates on the same vacant lots. Notably, we do not find evidence of the same downward bias in WTP derived from the sale of existing homes.

AbstractThis study examines the effects of the COVID‐19 pandemic on outdoor recreation trips and values using revealed preference data in the context of travel cost method. Demand models are estimated using data on pre‐ and postpandemic trips reported in a nationwide survey of recreation participants. The models incorporate related subjective risk perceptions as postpandemic measures of site quality and account for household‐level factors, pre‐existing conditions, and risk tolerance. Our results suggest that the pandemic had negative effects on recreation visits and values, with risk‐tolerant households and households with pre‐existing conditions taking more trips.