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Who Was First? An Examination of an Early Hedonic Study

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  • Peter F. Colwell
  • Gene Dilmore
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    Abstract

    G. C. Haas produced a hedonic study more than 15 years prior to A. T. Court who first published the term hedonics. Haas's application was to agricultural land prices with a particular focus on distance to the city center and city size. Thus, Haas's work has much of the flavor of contemporary urban economics. A reestimation of Haas's model reveals that he did a respectable job in an age before computational machinery was available. The estimation of a new model reveals a tiny value gradient and shows that some of Haas's adjustments to price, especially his time adjustments, were amazingly accurate.

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    Bibliographic Info

    Article provided by University of Wisconsin Press in its journal Land Economics.

    Volume (Year): 75 (1999)
    Issue (Month): 4 ()
    Pages: 620-626

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    Handle: RePEc:uwp:landec:v:75:y:1999:i:4:p:620-626

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    Cited by:
    1. Paolo Buonanno & Daniel Montolio & Josep Raya-Vílchez, 2013. "Housing prices and crime perception," Empirical Economics, Springer, Springer, vol. 45(1), pages 305-321, August.
    2. Jean Cavailhes & Dominique Peeters & Evangelos Sékeris & Jacques-François Thisse, 2004. "The periurban city : why to live between the suburbs and the countryside," Working Papers, Institut National de la Recherche Agronomique, France 155374, Institut National de la Recherche Agronomique, France.
    3. Filali, Radhouane, 2008. "Variabilité spatiale des prix hédoniques des caractéristiques du logement: une nouvelle méthode de calcul des indices de prix spatiaux
      [Spatial variability of housing attribute marginal prices:
      ," MPRA Paper 14227, University Library of Munich, Germany.
    4. Pia Nilsson, 2011. "Cultural Landscape Characteristics and Heritage Values A Spatially Explicit Hedonic Approach," ERSA conference papers ersa10p397, European Regional Science Association.
    5. Steven C. Bourassa & Martin Hoesli & Jian Sun, 2004. "A Simple Alternative House Price Index Method," FAME Research Paper Series, International Center for Financial Asset Management and Engineering rp119, International Center for Financial Asset Management and Engineering.
    6. Stefania Tonin & Margherita Turvani, 2011. "Environmental contamination and industrial real estate market: an application of hedonic price method in Italy," ERSA conference papers ersa10p511, European Regional Science Association.
    7. Andrea Baranzini & José V. Ramirez & Caroline Schaerer & Philippe Thalmann, 2008. "Introduction to this Volume: Applying Hedonics in the Swiss Housing Markets," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), Swiss Society of Economics and Statistics (SSES), vol. 144(IV), pages 543-559, December.
    8. Barrett A. Slade, 2000. "Office Rent Determinants during Market Decline and Recovery," Journal of Real Estate Research, American Real Estate Society, American Real Estate Society, vol. 20(3), pages 357-380.
    9. Palmquist, Raymond B., 2006. "Property Value Models," Handbook of Environmental Economics, Elsevier, in: K. G. Mäler & J. R. Vincent (ed.), Handbook of Environmental Economics, edition 1, volume 2, chapter 16, pages 763-819 Elsevier.
    10. Rosane Hungria-Gunnelin, 2013. "Impact of Number of Bidders on Sale Price of Auctioned Condominium Apartments in Stockholm," International Real Estate Review, Asian Real Estate Society, Asian Real Estate Society, vol. 16(3), pages 274-295.

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