The purpose of this study is to measure the benefits of interregional transportation improvement projects by the hedonic approach. First the study constructs a two regional general equilibrium model, in order to evaluate the changed prices due to the improvement in comparison with the net benefits. The study examines the applicability of the method with the case study of the Hokuriku Expressway project. Secondly the study demonstrates the applicability of the cross-sectional land price hedonic approach and shows the advantages of the cross-sectional land market approach.
