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Measuring heterogeneous preferences for residential amenities
Regional Science and Urban Economics ( IF 2.438 ) Pub Date : 2021-02-10 , DOI: 10.1016/j.regsciurbeco.2021.103646
Arthur J. Caplan , Sherzod B. Akhundjanov , Kristopher Toll

This study reports on estimates of heterogeneous preferences for residential amenities among households in the Mountain West region of the US. The estimates are derived from a choice experiment funded by the Utah Department of Transportation and Utah Transit Authority—an experiment based upon large samples of both homeowners and renters who participated in a larger, statewide transportation study. The choice experiment and transportation study allow us to control for a rich set of household-level demographic and lifestyle characteristics, which in turn permits identification of a host of factors contributing to heterogeneity in residential preferences. We leverage a percentage-change housing cost attribute included in the experiment to obtain measures of marginal willingness to pay (MWTP) for the various residential attributes and attribute levels in our study. Our method of converting the percentage-change cost attribute to dollar-denominated MWTP results in theoretically plausible estimates of a household's MWTP. We find that preferences for residential amenities differ across homeowners and renters with respect to intensity rather than direction—homeowners are generally willing to pay more for these amenities, in some cases up to seven times more. Our quantitative estimates of these preferences and the extent to which we control for heterogeneity across households provide urban and regional planners with precise monetary welfare measures for a sizable majority of the region's residents.



中文翻译:

衡量住宅设施的异类偏好

这项研究报告了美国西部山区家庭对居住设施异类偏好的估计。估算值来自犹他州交通运输部和犹他州交通管理局资助的选择实验,该实验基于参与较大规模的全州交通研究的房主和房客的大量样本。选择实验和交通研究使我们能够控制一系列丰富的家庭人口统计和生活方式特征,从而可以确定导致居留偏好异质性的许多因素。我们利用实验中包含的百分比变化住房成本属性来获取研究中各种住房属性和属性级别的边际支付意愿(MWTP)的度量。我们将百分比变化成本属性转换为以美元计价的MWTP的方法可得出一个理论上可行的家庭MWTP估算值。我们发现,房主和租房者对住宅设施的偏好在强度上而非方向上各不相同-房主通常愿意为这些设施支付更高的价格,在某些情况下甚至高出七倍。我们对这些偏好的量化估计以及我们控制家庭异质性的程度,为城市和区域规划者提供了针对该地区大部分地区的精确货币福利衡量标准

更新日期:2021-02-15
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