There is a consistent view, supported by the environmental Kuznets curve and popularized by the World Development Report, that middle-income countries place less value on the quality of environmental goods than rich countries. This book, therefore, investigates whether people in Ukraine, lower-middle-income country, do pay attention to air quality or not, comparing to people in high-income countries. Estimation of marginal willingness to pay for the air quality improvement using hedonic price analysis is conducted for housing market in Kyiv (Ukraine). The analysis should be especially useful for policy makers, who could compare costs associated with the reduction in air pollution and benefits from improving the air quality while implementing environmental policies, real estate specialists, and economists.