August 2002 <p> We present a three-stage estimation procedure to recover willingness to pay for housing attributes. In the first stage, we estimate a non-parametric hedonic home price function. Second, we recover each consumer’s taste parameters for product characteristics using first order...</p>

Revised March 2001 <p> This paper estimates a discrete choice model of housing product demand to study the causes of black urbanization. Our estimation strategy incorporates that there are unobserved product attributes which are correlated with observed product attributes. We bound racial...</p>

We present a three-stage estimation procedure to recover willingness to pay for housing attributes. In the first stage, we estimate a non-parametric hedonic home price function. Second, we recover each consumer's taste parameters for product characteristics using first order conditions for...

This paper estimates a discrete choice model of housing product demand to study the causes of black urbanization. Our estimation strategy incorporates that there are unobserved attributes which are correlated with observed product attributes. We bound racial differences in household willingness...

Procurement contracts are often renegotiated because of changes that are required after their execution. Using highway paving contracts we show that renegotiation imposes significant adaptation costs. Reduced form regressions suggest that bidders respond strategically to contractual...