This is one of the first researches on price differentials of green buildings in Asia. Using a rich set of data on condominium transactions and mandatory evaluation of environmental performance in Tokyo, we estimate the effects of itemized green scores on transaction prices. Although green...

This is one of the first researches on price differentials of green buildings in Asia. Using a rich set of data on condominium transactions and mandatory evaluation of environmental performance in Tokyo, we estimate the effects of itemized green scores on transaction prices. Although green...

This paper analyzes the transaction prices of green buildings assessed on the basis of multiple green factors. Our theoretical model demonstrates that the initial green premium can be negative but becomes positive as the building ages if a green building has a higher life-cycle cost and a longer...

Abstract This article studies the treatment effect models in which individuals are classified into unobserved groups based on heterogeneous treatment rules. By using a finite mixture approach, we propose a marginal treatment effect (MTE) framework in which the treatment choice and outcome...

In this paper, we consider sieve instrumental variable quantile regression (IVQR) estimation of functional coefficient models where the coefficients of endogenous regressors are unknown functions of some exogenous covariates. We approximate the unknown functional coefficients by some basis...

We empirically assess the treatment effects of a place-based policy in Japan and propose socially desirable and practically feasible treatment assignment rules for the program. To account for the heterogeneity of treatment effects, we estimate the conditional average treatment effect for each...

We empirically assess the treatment effects of a place-based policy in Japan and propose a socially desirable and practically feasible treatment assignment rule for the program. To account for heterogeneity of treatment effects, we estimate the conditional average treatment effect for each...

This study considers treatment effect models in which others' treatment decisions can affect one's own treatment and outcome. Focusing on the case of two-player interactions, we formulate treatment decision behavior as a complete information game with multiple equilibria. Using a latent index...