Abstract
The hedonics literature suggests that locations with more favourable characteristics should display compensating wage and house price differentials. Specifying climate in terms of January and July averages, estimates of the marginal willingness to pay for small changes in climate variables are derived using this technique applied to Italian data. Italians would prefer a drier climate during the winter months, but higher summertime temperatures are shown to reduce welfare. In some locations households would prefer to see clearer skies. These results may have relevance to the task of determining the economic impact of future climate change.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
