Search results for "spatial hedonic models"

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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.

[SDV]Life Sciences [q-bio]Valuation of Environmental Effects[SHS]Humanities and Social SciencesEmpirical researchSpatial SpilloversSpatial modelHousing Demand0502 economics and business11. SustainabilitySpatial Hedonic ModelsEconomicsEconometrics050207 economicsDimension (data warehouse)Public economics[ SDV ] Life Sciences [q-bio]05 social sciencesspillovers spatiauxDemandes des logements[SDV] Life Sciences [q-bio]13. Climate actionPolitical Science and International RelationsFeedback effectValue (economics)FrontagePropagation effect050202 agricultural economics & policymodèles hédoniques spatiauxÉvaluation des effets environnementaux
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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…

direct and indirect effectseffets direct et indirectspatial weight matrix[ SHS ] Humanities and Social Sciencesenvironmental valuationspillovers[SHS] Humanities and Social Sciencesspatial hedonic modelsmodèles hédoniques spatiauxmatrice de pondérations spatialesévaluation environnementale[SHS]Humanities and Social Sciences
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