Land Prices Substantially Underestimate the Value of Environmental Quality: A Rejoinder
The Review of Economics and Statistics, Vol. 62, February 1980, (with W. A. Niskanen)
1 Pages Posted: 26 Apr 2013 Last revised: 4 May 2013
A response to a comment made by Meryck Freeman on the paper of the same name. We believe that the value of benefit flows to private investors and local governments is based on the actual interest rates which each faces, not the "correct" rates which each should face.
Keywords: Hanke, Niskanen, Land, Prives, Substantially, Underestimate, The Value Of Environmental Quality Review, Economics, Statistics
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