Geostatistical Air Pollution Indexes in Spatial Hedonic Models: The case of Madrid, Spain
AbstractRecent work has shown how spatial econometrics can be applied to a housingvalue hedonic equation that includes air pollution variables. In this paper we propose a Spatial Durbin Model that incorporates an Air Pollution Index, instead of one or two pollution variables, and considers spatial and non-spatial endogeneity jointly. We do, however, assume both possibilities for the index: exogenous and endogenous. Unlike most empirical studies in the literature, we have focused our empirical analysis on a European city, Madrid. In order to do so, we constructed a massive data base in 2009 that includes almost 12,000 dwellings.
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Bibliographic InfoArticle provided by American Real Estate Society in its journal journal of Real Estate Research.
Volume (Year): 34 (2012)
Issue (Month): 2 ()
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Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
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Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
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- L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services
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