Hedonic Prices for Co-operative Flats in the City of Umeå estimated with Spatial Autoregressive GMM
AbstractThis paper explains the hedonic prices for co-operative flats in the city of Umeå, Sweden during 1998 and 1999. Structural and neighbourhood characteristics together with accessibility measures are used as attributes in the hedonic price function. Since there are indications of spatial dependence the OLS model is inappropriate. Instead a spatial econometric approach with Spatial Autoregressive GMM estimation is used. Two attractive nodes are found in the city. Thus there are sign supporting the view that Umeå has developed into a multi-nodal structure. Keywords: Hedonic prices, Co-operative flats, Spatial dependence, SAR-GMM JEL Classification: D46, D61, R20, R21
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by European Regional Science Association in its series ERSA conference papers with number ersa01p111.
Date of creation: Aug 2001
Date of revision:
Contact details of provider:
Postal: Welthandelsplatz 1, 1020 Vienna, Austria
Web page: http://www.ersa.org
Find related papers by JEL classification:
- D46 - Microeconomics - - Market Structure and Pricing - - - Value Theory
- D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
- R20 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - General
- R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
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.:
- Blomquist, Glenn C & Berger, Mark C & Hoehn, John P, 1988. "New Estimates of Quality of Life in Urban Areas," American Economic Review, American Economic Association, American Economic Association, vol. 78(1), pages 89-107, March.
- Peter F. Colwell, 1990. "Power Lines and Land Value," Journal of Real Estate Research, American Real Estate Society, American Real Estate Society, vol. 5(1), pages 117-128.
- Kelejian, Harry H & Prucha, Ingmar R, 1999. "A Generalized Moments Estimator for the Autoregressive Parameter in a Spatial Model," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 40(2), pages 509-33, May.
- Sheppard, Stephen, 1999.
"Hedonic analysis of housing markets,"
Handbook of Regional and Urban Economics, Elsevier,
in: P. C. Cheshire & E. S. Mills (ed.), Handbook of Regional and Urban Economics, edition 1, volume 3, chapter 41, pages 1595-1635
- Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
- P Bodson & D Peeters, 1975. "Estimation of the coefficients of a linear regression in the presence of spatial autocorrelation. An application to a Belgian labour-demand function," Environment and Planning A, Pion Ltd, London, Pion Ltd, London, vol. 7(4), pages 455-472, April.
- Can, Ayse, 1992. "Specification and estimation of hedonic housing price models," Regional Science and Urban Economics, Elsevier, Elsevier, vol. 22(3), pages 453-474, September.
- Cheshire, Paul & Sheppard, Stephen, 1995. "On the Price of Land and the Value of Amenities," Economica, London School of Economics and Political Science, London School of Economics and Political Science, vol. 62(246), pages 247-67, May.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Gunther Maier).
If references are entirely missing, you can add them using this form.