PT - JOURNAL ARTICLE AU - Phaneuf, Daniel J. AU - Taylor, Laura O. AU - Braden, John B. TI - Combining Revealed and Stated Preference Data to Estimate Preferences for Residential Amenities: A GMM Approach AID - 10.3368/le.89.1.30 DP - 2013 Feb 01 TA - Land Economics PG - 30--52 VI - 89 IP - 1 4099 - http://le.uwpress.org/content/89/1/30.short 4100 - http://le.uwpress.org/content/89/1/30.full SO - Land Econ2013 Feb 01; 89 AB - We show how stated preference information obtained from a choice experiment, and revealed preference information based on housing market transactions, can be combined via generalized method of moments (GMM) estimation. Specifically, we use a moment condition matching the predicted marginal willingness to pay (WTP) from a first-stage hedonic model to the marginal WTP formula implied by the choice experiment utility function. This is coupled with other moments from the choice experiment to produce GMM-based estimates of parameters that reflect the strengths of each data source. Our application values remediation of a contaminated site in Buffalo, New York, and we find evidence in support of estimates arising from our approach. (JEL Q51, Q53)