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Hedonic Analysis in a Spatial Context: Theoretical Problems in Valuing Location-Specific Amenities


  • Graves, Philip E
  • Knapp, Thomas A


Hedonic 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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Suggested Citation

  • 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 737-743, December.
  • Handle: RePEc:bla:ecorec:v:61:y:1985:i:175:p:737-43

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    References listed on IDEAS

    1. Roback, Jennifer, 1982. "Wages, Rents, and the Quality of Life," Journal of Political Economy, University of Chicago Press, vol. 90(6), pages 1257-1278, December.
    2. 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.
    3. 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.
    4. Graves, Philip E., 1983. "Migration with a composite amenity: the role of rents," MPRA Paper 19917, University Library of Munich, Germany.
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    Cited by:

    1. 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.
    2. 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.
    3. Hubert Jayet, 1996. "L'analyse économique des migrations, une synthèse critique," Revue Économique, Programme National Persée, vol. 47(2), pages 193-226.
    4. 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.

    More about this item

    JEL classification:

    • 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


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