Subdivision Specific Amenities and Residential Property Values
A 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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- Fujita, Masahisa, 1982. "Spatial patterns of residential development," Journal of Urban Economics, Elsevier, vol. 12(1), pages 22-52, July.
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