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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- Elena G. Irwin, 2002. "The Effects of Open Space on Residential Property Values," Land Economics, University of Wisconsin Press, vol. 78(4), pages 465-480.
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- Elena G. Irwin & Nancy E. Bockstael, 2001. "The Problem of Identifying Land Use Spillovers: Measuring the Effects of Open Space on Residential Property Values," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 83(3), pages 698-704.
- Hardie, Ian W. & Nickerson, Cynthia J., 2003. "The Effect Of A Forest Conservation Regulation On The Value Of Subdivisions In Maryland," Working Papers 28575, University of Maryland, Department of Agricultural and Resource Economics.
- Cropper, Maureen L & Deck, Leland B & McConnell, Kenneth E, 1988. "On the Choice of Functional Form for Hedonic Price Functions," The Review of Economics and Statistics, MIT Press, vol. 70(4), pages 668-675, November.
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