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Environmental Variables and Real Estate Prices


  • Din, A.
  • Hoesli, M.
  • Bender, A.


The aim of this paper is to compare various real estate valuation models and the manner in which they take into account environmental variables.

Suggested Citation

  • Din, A. & Hoesli, M. & Bender, A., 2001. "Environmental Variables and Real Estate Prices," Papers 2001.04, Ecole des Hautes Etudes Commerciales, Universite de Geneve-.
  • Handle: RePEc:fth:ehecge:2001.04

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    References listed on IDEAS

    1. Romano, Joseph P & Wolf, Michael, 2001. "Subsampling Intervals in Autoregressive Models with Linear Time Trend," Econometrica, Econometric Society, vol. 69(5), pages 1283-1314, September.
    2. Gourieroux,Christian & Monfort,Alain, 1995. "Statistics and Econometric Models," Cambridge Books, Cambridge University Press, number 9780521471626, March.
    3. Donald W. K. Andrews, 2002. "Higher-Order Improvements of a Computationally Attractive "k"-Step Bootstrap for Extremum Estimators," Econometrica, Econometric Society, vol. 70(1), pages 119-162, January.
    4. Davidson, Russell & MacKinnon, James G, 1999. "Bootstrap Testing in Nonlinear Models," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 40(2), pages 487-508, May.
    5. Goncalves, Silvia & White, Halbert, 2004. "Maximum likelihood and the bootstrap for nonlinear dynamic models," Journal of Econometrics, Elsevier, vol. 119(1), pages 199-219, March.
    6. White, Halbert, 1982. "Maximum Likelihood Estimation of Misspecified Models," Econometrica, Econometric Society, vol. 50(1), pages 1-25, January.
    7. Gourieroux, Christian & Monfort, Alain & Trognon, Alain, 1984. "Pseudo Maximum Likelihood Methods: Theory," Econometrica, Econometric Society, vol. 52(3), pages 681-700, May.
    8. Gourieroux, C & Monfort, A & Renault, E, 1993. "Indirect Inference," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 8(S), pages 85-118, Suppl. De.
    9. Donald W. K. Andrews, 1999. "Estimation When a Parameter Is on a Boundary," Econometrica, Econometric Society, vol. 67(6), pages 1341-1384, November.
    10. Newey, Whitney & West, Kenneth, 2014. "A simple, positive semi-definite, heteroscedasticity and autocorrelation consistent covariance matrix," Applied Econometrics, Publishing House "SINERGIA PRESS", vol. 33(1), pages 125-132.
    11. Andrews, Donald W K, 2001. "Testing When a Parameter Is on the Boundary of the Maintained Hypothesis," Econometrica, Econometric Society, vol. 69(3), pages 683-734, May.
    12. Weiss, Andrew A., 1986. "Asymptotic Theory for ARCH Models: Estimation and Testing," Econometric Theory, Cambridge University Press, vol. 2(01), pages 107-131, April.
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    Cited by:

    1. José-María Montero-Lorenzo & Beatriz Larraz-Iribas, 2012. "Space-time approach to commercial property prices valuation," Applied Economics, Taylor & Francis Journals, vol. 44(28), pages 3705-3715, October.
    2. Brereton, Finbarr & Clinch, J. Peter & Ferreira, Susana, 2008. "Happiness, geography and the environment," Ecological Economics, Elsevier, vol. 65(2), pages 386-396, April.
    3. Jose Montero & Beatriz Larraz, 2010. "Estimating Housing Prices: A Proposal with Spatially Correlated Data," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 16(1), pages 39-51, February.
    4. Paul Hindsley & Stuart Hamilton & O. Morgan, 2013. "Gulf Views: Toward a Better Understanding of Viewshed Scope in Hedonic Property Models," The Journal of Real Estate Finance and Economics, Springer, vol. 47(3), pages 489-505, October.
    5. Kamil Faisal & Ahmed Shaker, 2017. "An Investigation of GIS Overlay and PCA Techniques for Urban Environmental Quality Assessment: A Case Study in Toronto, Ontario, Canada," Sustainability, MDPI, Open Access Journal, vol. 9(3), pages 1-25, March.
    6. Anonymous, 2006. "Conservation of Australia's Historic Heritage Places," Inquiry Reports 31896, Productivity Commission.
    7. Damrongsak Rinchumphu & Chris Eves & Connie Susilawati, 2013. "Brand Value of Property in Bangkok Metropolitan Region (BMR), Thailand," International Real Estate Review, Asian Real Estate Society, vol. 16(3), pages 296-322.
    8. Zeynep Gamze Mert & Serhat Yilmaz & Ertan Mert, 2011. "A Comparison of Grading Models for Neighborhood Level of Family Housing Units," ERSA conference papers ersa11p966, European Regional Science Association.
    9. Queslati, W. & Salanie, J. & Delaitre, C. & Beaujouan, V., 2008. "Hedonic estimates of agricultural landscape values in suburban areas," 2008 International Congress, August 26-29, 2008, Ghent, Belgium 43601, European Association of Agricultural Economists.

    More about this item



    JEL classification:

    • G13 - Financial Economics - - General Financial Markets - - - Contingent Pricing; Futures Pricing
    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services


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