| Budget Amount *help |
¥17,290,000 (Direct Cost: ¥13,300,000、Indirect Cost: ¥3,990,000)
Fiscal Year 2017: ¥2,730,000 (Direct Cost: ¥2,100,000、Indirect Cost: ¥630,000)
Fiscal Year 2016: ¥2,470,000 (Direct Cost: ¥1,900,000、Indirect Cost: ¥570,000)
Fiscal Year 2015: ¥2,470,000 (Direct Cost: ¥1,900,000、Indirect Cost: ¥570,000)
Fiscal Year 2014: ¥4,160,000 (Direct Cost: ¥3,200,000、Indirect Cost: ¥960,000)
Fiscal Year 2013: ¥5,460,000 (Direct Cost: ¥4,200,000、Indirect Cost: ¥1,260,000)
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| Outline of Final Research Achievements |
Although the hedonic approach is one of the most conventional methods to evaluate the environment and public policy, most of the fundamental theory of the approach is based upon neoclassical statics. The purpose of this research is twofold, i.e. to model and analyze a cross sectional capitalization theory of hedonic approach in the context of macro dynamics considering the existence of asset and to develop more appropriate methods to depict the effects of the environment and public policy. First, we formulated one and two region macro-economic dynamic model assuming that the marginal utility of asset is more than zero and analyzed the possible equilibrium. The results shows that possibility that land or other asset prices can increase infinitely depending upon the initial prices and the value of marginal utility of asset. Second, we developed new two dimensional regression discontinuity design method and examined its applicability in the market data.
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