Search results for "Hedonic model"
showing 10 items of 11 documents
La valeur économique des paysages des villes périurbanisées
2007
La recherche présentée ici propose une méthode de description et d’évaluation des caractéristiques d’un paysage qui combine la géographie quantitative et l’économétrie des modèles hédoniques. Un modèle géographique produit des indices caractérisant les paysages à partir d’une reconstitution de la vue depuis le sol, en tenant compte des effets du relief et des masques que les objets hauts opposent à la vue. Il décrit la quantité de paysage vu par un observateur au niveau du sol en la répartissant entre 13 types d’occupations du sol. Les variables produites par le modèle géographique sont utilisées dans des régressions hédoniques qui permettent d’évaluer l’impact des attributs paysagers ain…
Spatial effects in housing price models : do housing prices capitalize urban development policies in the agglomeration of Dijon (1999) ?
2004
In this article we suppose that the integration of accessibility and neighborhood variables in hedonic housing models doesn't allow to take into account the spatial effects between the housing prices. Using a sample of 1520 transactions of apartments in the urban area of Dijon, we focus on two types of location variables : the distance to the CBD and the distance to several Disadvantaged Districts located in peripheral areas. We detect the presence of a spatial error autocorrelation in the hedonic model indicating that the valuation of the price of an apartment is locally influenced by the prices of the neighboring apartments. Then, we estimate a spatial error model which shows that the loc…
NEIGHBORHOOD EFFECTS IN SPATIAL HOUSING VALUE MODELS. THE CASE OF THE METROPOLITAN AREA OF PARIS (1999)
2009
In hedonic housing models, the spatial dimension of housing values are traditionally processed by the impact of neighborhood variables and accessibility variables. In this paper we show that spatial effects might remain once neighborhood effects and accessibility have been controlled for. We notably stress on three sides of neighborhood effects: social capital, social status and social externalities and consider the accessibility to the primary economic center as describing the urban spatial trend. Using spatial econometrics specifications of the hedonic equation, we estimate whether spatial effects impact the housing values. Our empirical case concerns the Metropolitan Area (MA) of Paris i…
The nature and impacts of environmental spillovers on housing prices: A spatial hedonic analysis
2014
Abstract: This paper investigates the spatial dimension of the environmental effects. We use recent advances in spatial econometrics to show that hedonic equations produce estimates to be differently interpreted as implicit prices according to spatial models. In particularly, the i mplicit price of housing attribute combines a feedback effect and a propagation effect and may be interpreted in terms of local or global spillovers. We drive an empirical study in the estuary of the Loire, a rural and urban area well occupied by various natural areas and more artificialized ones. We study various spatial interaction patterns to test the robustness of our estimates and we find that spatial depend…
Environmental spillovers and their impacts on housing prices: A spatial hedonic analysis
2015
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.
The spatial dimension of the French private rental markets: Evidence from microgeographic data in 2015
2021
International audience; This article draws on data collected by local rental observatories in 12 French urban units in 2015 to analyze the spatial dimension of hedonic rental prices in the private rental market through (i) the spatial heterogeneity between urban units and (ii) the wide variety of contextual and locational characteristics (socio-economic, environmental (dis)amenity, and accessibility) and flexible specifications to capture their potential non-linear influence on rent. Based on a joint test of equality of coefficients across all urban units, we find that hedonic prices differ for 75% of the characteristics, thereby justifying a detailed analysis of heterogeneity. Lyon, Nice, …
Does Airbnb Disrupt the Private Rental Market? An Empirical Analysis for French Cities
2019
This article evaluates whether Airbnb rentals affect the rents in the private rental sector in eight cities in France. We estimate a hedonic equation for each city on individual data for apartments, allowing for heteroscedasticity and spatial error autocorrelation of unknown forms and using a large variety of structural and contextual characteristics of the apartments. We show that the density of Airbnb rentals puts upward pressure on rents in Lyon, Montpellier, and Paris, whereas it has no significant effect in other cities. If we restrict the analysis to the professional business of Airbnb rentals, which we define as the lodgings owned by an investor who rents either several “entire home…
Urban densities and economic analyse of residentials choices
2016
The thesis is focused on urban growth control challenge through the Compact City model and its key spatial characteristic: the density. This work deals both with a theoretical, methodological and empirical approach. First, we place ourselves in the theoretical framework of Urban Economic addressing agents’ location choices. We mobilize these theories to identify the key determinants of residential location (employment center, spatial amenities, housing’s service) and analyze the spatial organization that follows (dense or spread). This literature leads us to consider different types of density: structural density, population density and social density. This thesis highlights various methodo…
The premium price for Italian red wines in new world wine consuming countries: the case of the Russian market
2017
Italian wine is increasingly appreciated in new world consumer countries and, in particular, in Russia where consumers associate its consumption with an Italian lifestyle. In this paper, market value for wine search attributes is measured through the estimation of a hedonic price model using online data from a Wine Searcher website and the information contained in the labels of wines marketed in Russia. Results show a premium price for wines from Piedmont and Tuscany, and in particular for non-native varieties and for Indicazione Geografica Tipica and Protected Geographical Indication wines. Additionally, vintage and higher alcohol content have a significant positive impact on the prices th…
Spatial effects of urban public policies on housing values
2009
International audience; Problems of spatial segregation have often stressed on the social status and social capital of a neighbourhood as main driving forces behind housing price formation. In this paper, it is assumed that spatial effects are additional variables worth considering since the impact of urban policies such as social housing policies and urban regeneration policies may permeate outside the areas where they are implemented. Our case study is of the urban area of Dijon (France), where these two types of urban policies have been implemented in the last three decades. Spatial effects are introduced in the hedonic model and a spatial error model is estimated, revealing a positive a…