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This paper analyzed the differences between house buyers when valuing environmental characteristics associated with the house. The theoretical framework used is based on hedonic modeling, but the second stage is estimated by assuming a translog utility function. This technique is used to estimate the non-marginal willingness to pay for environmental housing attributes and whether an environmentally aware household has a higher willingness to pay or not. The findings reveal that there is a positive willingness to pay for environmental attributes and it is higher for households who (state that they) are environmentally aware. These results may justify policy measures such as information campaigns.
Mandell et al. (Sat,) studied this question.