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The Impact of Spatial-Temporal Interactions on Industrial Land Values

Author

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  • Joseph G. Kowalski

    (Southheld, Michigan. USA)

  • Christos C. Paraskevopoulos

    (Department of Economics. York University, 4700 Keele Street, North York, Ontario M3J 1P3, Canada)

Abstract

This study examines the impacts of spatial and time-related variables on the price of industrially zoned acreage in a suburban submarket of the Detroit, Michigan, SMSA. First, a variant of the hedonic pricing model (HPM) is estimated which measures spatial and temporal explanatory variables separately. Second, another variant of the HPM is estimated which combines the measurement of one dimension of location and one dimension of time into a single explanatory variable (the ratio of distance to time).

Suggested Citation

  • Joseph G. Kowalski & Christos C. Paraskevopoulos, 1991. "The Impact of Spatial-Temporal Interactions on Industrial Land Values," Urban Studies, Urban Studies Journal Limited, vol. 28(4), pages 577-583, August.
    • Handle: RePEc:sae:urbstu:v:28:y:1991:i:4:p:577-583
    DOI: 10.1080/00420989120080661
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    References listed on IDEAS

    as
    1. Joseph G. Kowalski & Peter F. Colwell, 1986. "Market Versus Assessed Values of Industrial Land," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 14(2), pages 361-373, June.
    2. Mizon, Grayham E & Richard, Jean-Francois, 1986. "The Encompassing Principle and Its Application to Testing Non-nested Hypotheses," Econometrica, Econometric Society, vol. 54(3), pages 657-678, May.
    3. Peter F. Colwell & C. F. Sirmans, 1978. "Area, Time, Centrality and the Value of Urban Land," Land Economics, University of Wisconsin Press, vol. 54(4), pages 514-519.
    4. Kowalski, Joseph G. & Paraskevopoulos, Christos C., 1990. "The impact of location on urban industrial land prices," Journal of Urban Economics, Elsevier, vol. 27(1), pages 16-24, January.
    5. Sirmans, G. Stacy & Smith, Stanley D. & Sirmans, C. F., 1983. "Assumption Financing and Selling Price of Single-Family Homes," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 18(3), pages 307-317, September.
    6. Hoag, James W, 1980. "Towards Indices of Real Estate Value and Return," Journal of Finance, American Finance Association, vol. 35(2), pages 569-580, May.
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