Year of Award

2007

Document Type

Thesis

Degree Type

Master of Arts (MA)

Degree Name

Economics

Department or School/College

Department of Economics

Committee Chair

Richard Barrett

Commitee Members

Douglas Dalenberg, Tyron Venn

Keywords

economics, energy, energy efficiency, hedonic, hedonic price model, housing

Abstract

This paper investigates the relationship between energy efficiency and owner reported home value using American Housing Survey data. A hedonic price model is developed in order to isolate the impact of home energy use on the owner’s perceived market value of the home. In order to limit the impact of fixed housing characteristics on the model, the fixed effect regression technique is used. Empirical estimation provides evidence that homeowners feel the housing market assigns very limited value to the energy efficiency of their homes.

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© Copyright 2007 Caleb David Lande