Metadata language
Studia Obszarów Wiejskich = Rural Studies, t. 52
Creator:Czyżewski, Bazyli : Autor ; Matuszczak, Anna : Autor ; Przekota, Grzegorz : Autor
Publisher: Place of publishing: Date issued/created: Description: Type of object: Subject and Keywords:rural areas ; public goods ; market valuation ; hedonic pricing methods
Abstract:The aim of the study is to create a conceptual framework for the valuation of the endogenous influence of public goods in rural areas using the new approach: the economic surplus valuation method (ESV), which implements the concept of producer and consumer rent. A distinctive feature of the ESV, compared to other market-based valuation methods is the assumption that public goods exert an endogenous impact upon resources and their productivity, but do not act in the model as exogenous variables (as it is in the case of hedonic pricing methods; the HPM). The authors’ approach limits the issues related to the specification bias within the HPM. Moreover, this manner reduces the problems associated with model specification errors in the HPM. The authors argue that ignoring the endogenous impact of public goods on resources and their productivity can lead to distorted results.
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