The hedonic approach: development of the hedonic conception; Rosen's method and work in the 1970s - Sherwen Rosen's breakthrough, Ohta's work; econometrics after the 1980s - criticisms from James Brown and Harvey Rosen, other econometric analyses; Scotchmer's crucial comments; reconsideration of capitalization theory. Theory of capitalization hypothesis: two types of capitalization - time series and comparative statics capitalization, cross sectional capitalization; theory of cross sectional capitalization - solution of Cobb-Douglass production and utilites, overestimation theorem and equality condition (Kanemoto's Theory); extension - the case of hetergeneous consumer and land use control for production, the case of short run evaluation; conclusion. Hedonic measure as an approximation of benefit: introduction; examination of overestimation ratio; results - the area covered by the project and overstimation ratio, the intensity of the project and overestimation ratio, the robustness of the results in different rates of substitution; an extension - CES functions, model and results, the case of hetergeneous consumers. Empirical examination of the accuracy of the hedonic approach: large national project evaluation; introduction of accessibility and the model revised; parameter estimation method and data - the data, results of the parameter estimation; results - the comparison of hedonic measures and the benefit, the comparison of the hedonic measure estimate by national hedonic functions and the benefit; conclusion. Comparison with contingent valuation method: meaning of comparison; air pollution; water pollution; conclusion. Estimation of hedonic price function: introduction; market segmentation and sample size for hedonic analysis; types of property data - bias of assessed prices, possibly bias in transaction data, housing price transformation into land price; explanatory characteristics of property - variables for housing land price function, housing price transformation into land price; explanatory characteristics of property - variables for housing land price function, variables for commerce or office use land in Japan; making variables fit the reality - institutional restriction, reliable distance measure on foot, introduction of accessibility measure, assignment of site-specific value; hedonic price function and unit and form of variables - unit of dependent variable, adjustment of a real estate price multi-period data, functional and variables' form and estimation. Hedonic price method in estimating the value of environmental and institutional regulation: introduction; changes in consumer preference on an upper level housing estate during 1934 and 1985 in Tokyo; amenity value - value of riverside park and flood risk value, value of access to a large-scale park and the value of railway services, values of a view of symbolic landscape - the case of flats in Tokyo, values of residential green vegetation environment and (Part Contents).