Hedonic analysis in a spatial context: theoretical problems in valuing location-specific amenities
AbstractHedonic analysis is frequently implemented to generate implicit prices for location-specific amenities within single markets, either in cross-city wage differentials or within-city rent gradients. Amenities are shown to be generally priced in both land and labor markets, with single market valuations tending to understate true amenity values. Establishing a correct multi-market amenity valuation model is seen to depend on the resolution of a host of additional issues.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 19902.
Date of creation: Dec 1985
Date of revision:
Amenities; hedonic models; wage differentials; property value differentials; spatial modeling;
Other versions of this item:
- Graves, Philip E & Knapp, Thomas A, 1985. "Hedonic Analysis in a Spatial Context: Theoretical Problems in Valuing Location-Specific Amenities," The Economic Record, The Economic Society of Australia, vol. 61(175), pages 737-43, December.
- A1 - General Economics and Teaching - - General Economics
- J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
- J61 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Geographic Labor Mobility; Immigrant Workers
- N5 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries
- C31 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models; Quantile Regressions; Social Interaction Models
- D1 - Microeconomics - - Household Behavior
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Roback, Jennifer, 1982. "Wages, Rents, and the Quality of Life," Journal of Political Economy, University of Chicago Press, vol. 90(6), pages 1257-78, December.
- Graves, Philip E. & Linneman, Peter D., 1979. "Household migration: Theoretical and empirical results," Journal of Urban Economics, Elsevier, vol. 6(3), pages 383-404, July.
- Graves, Philip E., 1983. "Migration with a composite amenity: the role of rents," MPRA Paper 19917, University Library of Munich, Germany.
- Graves, Philip E., 1979.
"A life-cycle empirical analysis of migration and climate, by race,"
19921, University Library of Munich, Germany.
- Graves, Philip E., 1979. "A life-cycle empirical analysis of migration and climate, by race," Journal of Urban Economics, Elsevier, vol. 6(2), pages 135-147, April.
- Waltert, Fabian & Schläpfer, Felix, 2010. "Landscape amenities and local development: A review of migration, regional economic and hedonic pricing studies," Ecological Economics, Elsevier, vol. 70(2), pages 141-152, December.
- Julia Koschinsky & Nancy Lozano-Gracia & Gianfranco Piras, 2012. "The welfare benefit of a home’s location: an empirical comparison of spatial and non-spatial model estimates," Journal of Geographical Systems, Springer, vol. 14(3), pages 319-356, July.
- Fabian Waltert & Felix Schlaepfer, 2007. "The role of landscape amenities in regional development: a survey of migration, regional economic and hedonic pricing studies," SOI - Working Papers 0710, Socioeconomic Institute - University of Zurich.
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