IDEAS home Printed from https://ideas.repec.org/p/hal/journl/halshs-00577899.html

Is it worth identifying service employment (sub)centres when modelling apartment prices?

Author

Listed:
  • Marko Kryvobokov

    (LET - Laboratoire d'économie des transports - UL2 - Université Lumière - Lyon 2 - ENTPE - École Nationale des Travaux Publics de l'État - CNRS - Centre National de la Recherche Scientifique)

Abstract

The use of the attributes of the central business district and several subcentres instead of the characteristics of all the land parcels or zones can be seen as a higher level of analysis in real estate valuation. However, old technological limitations on considering smaller territorial units are being successfully overcome. The question is whether or not we still need generalisation, i.e. to identify urban centres when modelling real estate prices, or whether it is preferable to operate at a lower spatial level. The application of the traditional approach of identifying centres is compared with an 'objective' centrality index and a 'subjective' accessibility index calculated for each zone. The purpose is to find out which of the three concepts best fits a regression model of apartment prices and provides the best prediction. Both global and geographically weighted ordinary least squares regressions are used as well as spatial lag and spatial error models. We conclude that if a model is spatially weighted or the spatial effects are controlled, it is not that important which of the concepts is applied. Nevertheless, in most cases the highest predictive capacity is obtained with duocentric models.

Suggested Citation

  • Marko Kryvobokov, 2010. "Is it worth identifying service employment (sub)centres when modelling apartment prices?," Post-Print halshs-00577899, HAL.
    • Handle: RePEc:hal:journl:halshs-00577899
    DOI: 10.1080/09599916.2010.517852
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00577899v1
    as

    Download full text from publisher

    File URL: https://shs.hal.science/halshs-00577899v1/document
    Download Restriction: no
    File URL: https://libkey.io/10.1080/09599916.2010.517852?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Fujita, Masahisa & Thisse, Jacques-Francois & Zenou, Yves, 1997. "On the Endogeneous Formation of Secondary Employment Centers in a City," Journal of Urban Economics, Elsevier, vol. 41(3), pages 337-357, May.
    2. Thomas De Graaff & Raymond J.C.M. Florax & Peter Nijkamp & Aura Reggiani, 2001. "A General Misspecification Test for Spatial Regression Models: Dependence, Heterogeneity, and Nonlinearity," Journal of Regional Science, Wiley Blackwell, vol. 41(2), pages 255-276, May.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Marko Kryvobokov & Aurélie Mercier & Alain Bonnafous & Dominique Bouf, 2013. "Simulating housing prices with UrbanSim: predictive capacity and sensitivity analysis," Letters in Spatial and Resource Sciences, Springer, vol. 6(1), pages 31-44, March.
    2. Marko Kryvobokov & Louafi Bouzouina, 2014. "Willingness to pay for accessibility under the conditions of residential segregation," Post-Print halshs-01082820, HAL.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ivan Muñiz & Anna Galindo & Miguel Angel García, 2005. "Descentralisation, Integration and polycentrism in Barcelona," Working Papers wpdea0512, Department of Applied Economics at Universitat Autonoma of Barcelona.
    2. McMillen, Daniel P. & Smith, Stefani C., 2003. "The number of subcenters in large urban areas," Journal of Urban Economics, Elsevier, vol. 53(3), pages 321-338, May.
    3. Berliant, Marcus & Wang, Ping, 2008. "Urban growth and subcenter formation: A trolley ride from the Staples Center to Disneyland and the Rose Bowl," Journal of Urban Economics, Elsevier, vol. 63(2), pages 679-693, March.
    4. Gregory Verdugo & Malak Kandoussi, 2025. "Will you follow your job to the suburbs? Commuting, locational amenities and wages in a large metro area," Sciences Po Economics Publications (main) hal-05447239, HAL.
    5. Brown, Jason P. & Lambert, Dayton M., 2009. "Short-run Birth and Death of U.S. Manufacturing Firms: 2000 - 2005," 2009 Annual Meeting, January 31-February 3, 2009, Atlanta, Georgia 46739, Southern Agricultural Economics Association.
    6. Xu Yang & Xuan Zou & Ming Li & Zeyu Wang, 2024. "The Decarbonization Effect of the Urban Polycentric Structure: Empirical Evidence from China," Land, MDPI, vol. 13(2), pages 1-17, February.
    7. Ismir Mulalic & Jos N. Van Ommeren & Ninette Pilegaard, 2014. "Wages and Commuting: Quasi‐natural Experiments' Evidence from Firms that Relocate," Economic Journal, Royal Economic Society, vol. 124(579), pages 1086-1105, September.
    8. Dimitrios Xefteris & Nicholas Ziros, 2014. "A Spatial Model of Perfect Competition," University of Cyprus Working Papers in Economics 05-2014, University of Cyprus Department of Economics.
    9. Peng Ji & Lilin Yuan, 2023. "Whether polycentric spatial structure is conducive to regional coordinated development: A study on urban agglomerations in China," Growth and Change, Wiley Blackwell, vol. 54(4), pages 940-961, December.
    10. Florax, Raymond J. G. M. & Voortman, Roelf L. & Brouwer, Joost, 2002. "Spatial dimensions of precision agriculture: a spatial econometric analysis of millet yield on Sahelian coversands," Agricultural Economics, Blackwell, vol. 27(3), pages 425-443, November.
    11. Tianren Yang & Ying Jin & Longxu Yan & Pei Pei, 2019. "Aspirations and realities of polycentric development: Insights from multi-source data into the emerging urban form of Shanghai," Environment and Planning B, , vol. 46(7), pages 1264-1280, September.
    12. Garcia-López, Miquel-Àngel, 2010. "Population suburbanization in Barcelona, 1991-2005: Is its spatial structure changing?," Journal of Housing Economics, Elsevier, vol. 19(2), pages 119-132, June.
    13. Yi Niu & Chengri Ding & Gerrit-Jan Knaap, 2015. "Employment Centers and Agglomeration Economies," Economic Development Quarterly, , vol. 29(1), pages 14-22, February.
    14. Ling Li & Fangzhou Xia, 2023. "City subcenter as a regional development policy: Impact on the property market," Journal of Regional Science, Wiley Blackwell, vol. 63(3), pages 643-673, June.
    15. repec:rre:publsh:v:38:y:2008:i:1:p:8-28 is not listed on IDEAS
    16. Wu, JunJie, 2006. "Environmental amenities, urban sprawl, and community characteristics," Journal of Environmental Economics and Management, Elsevier, vol. 52(2), pages 527-547, September.
    17. Ivan Muñiz & Anna Galindo & Miguel Ángel García, 2005. "Descentralización, integración y policentrismo en Barcelona," Working Papers wpdea0505, Department of Applied Economics at Universitat Autonoma of Barcelona.
    18. Céline Boiteux-Orain & Jean-Marie Huriot, 2001. "Modelling suburbanization (success and limits of microeconomics of cities) [Modéliser la suburbanisation (succès et limites de la microéconomie urbaine)]," Working Papers hal-01527136, HAL.
    19. Laurent Gobillon & Harris Selod & Yves Zenou, 2002. "Spatial Mismatch : From the Hypothesis of the Theories," Working Papers 2002-57, Center for Research in Economics and Statistics.
    20. Fu-Chuan Lai & David Merriman & Jyh-Fa Tsai, 2014. "Land use and rent gradients with a monopoly vendor and two central business districts," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 53(3), pages 745-760, November.
    21. Ponczek, Vladimir & Mattos, Enlison, 2013. "Efeitos da Divisão Municipal na oferta de Bens Públicos e Indicadores Sociais," Revista Brasileira de Economia - RBE, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil), vol. 67(3), September.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hal:journl:halshs-00577899. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.