Subdivision Specific Amenities and Residential Property Values
AbstractA hedonic property value model, derived from a dynamic game theoretic framework, is estimated using data obtained for 211 subdivisions including 4628 building lots in five Maryland counties. Linear Box-Cox estimation results show that variables measuring subdivision specific amenities significantly affect residential property values, and omission of such variables produces biased coefficient estimates.
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Bibliographic InfoPaper provided by University of Maryland, Department of Agricultural and Resource Economics in its series Working Papers with number 28596.
Date of creation: 2006
Date of revision:
Land Economics/Use; Public Economics;
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- Bucholtz, Shawn & Geoghegan, Jacqueline & Lynch, Lori, 2003. "Capitalization of Open Spaces into Housing Values and the Residential Property Tax Revenue Impacts of Agricultural Easement Programs," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 32(1), April.
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- Hardie, Ian W. & Nickerson, Cynthia J., 2003. "The Effect Of A Forest Conservation Regulation On The Value Of Subdivisions In Maryland," Working Papers 28575, University of Maryland, Department of Agricultural and Resource Economics.
- Kelvin J. Lancaster, 1966. "A New Approach to Consumer Theory," Journal of Political Economy, University of Chicago Press, vol. 74, pages 132.
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