The Millennium Villages Project and Local Land Values: Using Hedonic Pricing Methods to Evaluate Development Projects

This paper uses hedonic analysis to estimate the impact of an area-based anti-poverty project on land values in a developing country. Economic theory would suggest that benefits of area-based programs would be capitalized into land prices, as supply is relatively fixed compared to other factors of production. While revealed preference methods have been applied widely in the field of environmental economics, they have not yet been used to...