0000000000321089
AUTHOR
Masha Maslianskaia-pautrel
Environmental spillovers and their impacts on housing prices: A spatial hedonic analysis
This paper investigates the spatial dimension of environmental factors on housing prices. We develop spatial hedonic models to estimate the implicit prices of various environmental attributes. The spatial dimension can be interpreted in terms of local or global spillovers. We conduct an empirical study in the Loire estuary (France). We focus on natural areas and more artificialized ones (ocean frontage, wetlands, rivers, and noisy roads). We show that, depending on the spatial model used, the implicit price is more than just the estimated coefficient value and combines both a feedback effect and a propagation effect.
Does the Spatial Weight Configuration Matter in the Determination of the Effects of Environmental Externalities on Housing Prices?
This paper highlights, from both a theoretical and an empirical point of view, how the choice of neighborhood and spatial weight affects the direct and indirect effects of environmental housing attributes on house price in environmental hedonic models.An original empirical investigation is herein undertaken for the area of the lower Loire estuary (France), in order to illustrate and complement our theoretical analysis. The first thing it shows is that as the radius of the neighborhood increases, the spatial specification changes from the Spatial Durbin to the SLAG model, which could modify the MWTP of the environmental attribute and therefore affect welfare analysis. It shows also that the …