Hedonic Methods In Housing Markets
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Hedonic Methods In Housing Markets
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Author : Andrea Baranzini
language : en
Publisher: Springer Science & Business Media
Release Date : 2008-09-20
Hedonic Methods In Housing Markets written by Andrea Baranzini and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-09-20 with Business & Economics categories.
Cities are growing worldwide and their sprawl is increasingly challenged for its pressure on open spaces and environmental quality. Economic arguments can help to decide about the trade-off between preserving environmental quality and developing housing and business surfaces, provided the benefits of environmental quality are adequately quantified. To this end, this book focuses on the use and advancement of the “hedonic approach”, an economic valuation technique that analyses and quantifies the sources of rent and property price differentials. Starting from theoretical foundations, the hedonic approach is applied to the valuation of natural land use preservation and noise abatement measures, as well as to residential segregation and discrimination, extending the analysis to the role of the buyers and sellers' identity on housing market prices and to the issue of environmental justice.
A Review Of Applications Of Hedonic Pricing Models In The New Zealand Housing Market
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Author : Mario Andres Fernandez
language : en
Publisher:
Release Date : 2019
A Review Of Applications Of Hedonic Pricing Models In The New Zealand Housing Market written by Mario Andres Fernandez and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
Hedonic House Prices Without Characteristics
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Author : Olympia Bover
language : en
Publisher:
Release Date : 2002
Hedonic House Prices Without Characteristics written by Olympia Bover and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Housing categories.
House Price Methodology
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Author : Marko Hannonen
language : en
Publisher: Suomen E-painos Oy
Release Date :
House Price Methodology written by Marko Hannonen and has been published by Suomen E-painos Oy this book supported file pdf, txt, epub, kindle and other format this book has been release on with Mathematics categories.
This booklet discusses some major methodological issues relating to the construction of house price models on a macro level. There is no single method that always produces the optimal results; the choice of a particular approach, method, theory, model and technique is context-dependent. This is especially true in housing markets, where a multitude of different submarkets exist. The methodology chosen should be based on sound theory, from which the basic concepts of analysis can be derived. This booklet discusses the use of potential models, which can be constructed using a general field theory, and which act as a theoretical foundation for further analysis. If we use potential models for house price analysis we can discover additional features from the data set that other approaches would simply miss. This e-book presents a pragmatic overview of key methodological concerns with the emphasis on the use of potential models. Theoretical methodological questions are left unanswered, and are not even presented in this text, since they have little relevancy to real-world modelling questions.
Valuing The Built Environment
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Author : Scott Orford
language : en
Publisher: Routledge
Release Date : 2017-09-08
Valuing The Built Environment written by Scott Orford and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-09-08 with Science categories.
This book critically assesses the hedonic pricing technique as a method of imputing monetary values for the implicit attributes of housing. The hedonic technique is widely used, particularly in the US, but increasingly in Europe and Asia and has proved to yield important results and influence cost-benefit analysis. Scott Orford breaks new ground in this volume by exploring hedonic house price models within a geographical rather than purely economic context. He reevaluates the microeconomic theory of housing markets and concludes that only by treating housing market dynamics as inherently spatial can empirical results conform to the theory that underpins them. He also makes conclusions with respect to locational externalities, which have important implications as to how the built environment is valued.
Dissecting Housing Value And Rent
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Author : James R. Follain
language : en
Publisher: Urban Institute Press
Release Date : 1980
Dissecting Housing Value And Rent written by James R. Follain and has been published by Urban Institute Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1980 with Business & Economics categories.
A Primer On Nonmarket Valuation
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Author : Patricia A. Champ
language : en
Publisher: Springer
Release Date : 2017-02-08
A Primer On Nonmarket Valuation written by Patricia A. Champ and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-02-08 with Business & Economics categories.
This is a practical book with clear descriptions of the most commonly used nonmarket methods. The first chapters of the book provide the context and theoretical foundation of nonmarket valuation along with a discussion of data collection procedures. The middle chapters describe the major stated- and revealed-preference valuation methods. For each method, the steps involved in implementation are laid out and carefully explained with supporting references from the published literature. The final chapters of the book examine the relevance of experimentation to economic valuation, the transfer of existing nonmarket values to new settings, and assessments of the reliability and validity of nonmarket values. The book is relevant to individuals in many professions at all career levels. Professionals in government agencies, attorneys involved with natural resource damage assessments, graduate students, and others will appreciate the thorough descriptions of how to design, implement, and analyze a nonmarket valuation study.
What Can We Learn From Hedonic Models When Housing Markets Are Dominated By Foreclosures
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Author : N. Edward Coulson
language : en
Publisher:
Release Date : 2013
What Can We Learn From Hedonic Models When Housing Markets Are Dominated By Foreclosures written by N. Edward Coulson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
Hedonic property value models have been frequently used to value environmental amenities because markets for these goods usually do not exist. Typically, researchers cite Rosen's (1974) seminal work, which allows one to interpret functions of the hedonic regression coefficients as the marginal willingness to pay for the environmental good. A key assumption needed for the Rosen result to hold is market equilibrium. Recent years have witnessed extreme circumstances -- such as wild swings in housing prices, high levels of mortgage default, and, most significantly, high levels of foreclosure -- in which this assumption is unlikely to hold. In this article, we address the issue of how we interpret the coefficient estimates for environmental goods in hedonic property value models when markets are dominated by foreclosures. We then focus on housing market conditions when interpreting the hedonic literature on (airport) noise, Superfund sites, air quality, and flood risk.
Construction And Application Of Property Price Indices
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Author : Anthony Owusu-Ansah
language : en
Publisher: Routledge
Release Date : 2018-07-11
Construction And Application Of Property Price Indices written by Anthony Owusu-Ansah and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-07-11 with Business & Economics categories.
The importance of house prices to households, real estate developers, banks and policy-makers cannot be overemphasised. House price changes affect consumer spending and business investment patterns, which in turn affect the wider macro economy and the entire business cycle. Measuring and understanding house prices is therefore essential to a functioning economy, but researchers continue to disagree on the best methodological approach for constructing real estate indices. This book argues the need for more accurate house price indices, outlines the various methods used to construct indices and discusses the existing house price indices around the globe. It shows how the raw data of property transactions can be prepared for the purpose of constructing indices, discusses various applications of property price indices and empirically demonstrates how the index numbers can be used to model the supply of new houses and to estimate the price elasticity of supply. Essential reading for economists, real estate professionals and researchers, and policy-makers.
Hedonic Price Indexes For Housing
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Author : Robert Hill
language : en
Publisher:
Release Date : 2011
Hedonic Price Indexes For Housing written by Robert Hill and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with Economics categories.
Every house is different. It is important that house price indexes take account of these quality differences. Hedonic methods which express house prices as a function of a vector of characteristics (such as number of bedrooms and bathrooms, land area and location) are particularly useful for this purpose. In this report I consider some of the developments in the hedonic methodology, as it is applied in a housing context, that have occurred in the last three decades. A number of hedonic house price indexes are now available. However, it is often difficult to see how these indexes relate to each other. For this reason the paper attempts to impose some structure on the literature by developing a taxonomy of hedonic methods, and then show how existing methods fit into this taxonomy. Also discussed are some promising areas for future research in the hedonic field, particularly the use of geospatial data and nonparametric methods for better capturing the impact of location on house prices. The main criticisms of the hedonic approach are evaluated and compared with the repeat sales and stratified median methods. The overall conclusion is that the advantages of the hedonic approach outweigh its disadvantages.