Nonmarginal Welfare Estimates for Different Baseline Distances to AOC
| AOC = 0.3 | AOC = 0.6 | AOC = 1.0 | AOC = 1.5 | AOC = 2.0 | |
|---|---|---|---|---|---|
| SP | $5,924 | $4,339 | $3,170 | $2,243 | $1,585 |
| (3,395.84) | (2,478.08) | (1,809.36) | (1,284.91) | (908.67) | |
| RP/SP-A, AOC moment only | $14,471 | $10,598 | $7,745 | $5,479 | $3,872 |
| (9,544.11) | (6,964.62) | (5,085.28) | (3,611.28) | (2,553.69) | |
| RP/SP-B, size moment only | $4,177 | $3,059 | $2,236 | $1,582 | $1,118 |
| (2,737.52) | (1,997.65) | (1,458.60) | (1,035.82) | (732.47) | |
| SP/RP-C, AOC and size moments | $14,461 | $10,591 | $7,739 | $5,476 | $3,870 |
| (9,465.08) | (6,906.95) | (5,043.17) | (3,581.38) | (2,532.54) | |
| Hedonic price changea | $14,788 | $10,831 | $7,914 | $5,599 | $3,957 |
| (10,801) | (7,910) | (5,780) | (4,089) | (2,890) | |
| Direct Measures via “Full Cleanup” Attribute | |||||
| SP | $13,807 | $13,172 | $12,704 | $12,332 | $12,068 |
| (4,658.99) | (4,290.83) | (4,177.06) | (4,191.42) | (4,257.73) | |
| RP/SP-A | $18,758 | $16,221 | $14,351 | $12,867 | $11,814 |
| (7,570.73) | (6,138.34) | (5,477.30) | (5,292.42) | (5,366.53) | |
| RP/SP-B | $8,978 | $8,740 | $8,564 | $8,425 | $8,326 |
| (3,528.94) | (3,265.63) | (3,179.08) | (3,181.73) | (3,222.11) | |
| SP/RP-C | $14,965 | $12,434 | $10,570 | $9,090 | $8,040 |
| (6,828.60) | (5,225.54) | (4,371.75) | (4,032.48) | (4,024.72) | |
Note: Bootstrap standard errors in parentheses. AOC, Area of Concern; RP, revealed preference; SP, stated preference.
↵a Computed using sample weights as values for the north dummy variable.