Hedonic analysis in a spatial context: theoretical problems in valuing location-specific amenities
Hedonic analysis is frequently implemented to generate implicit prices for location-specific amenities within single markets, either in cross-city wage differentials or within-city rent gradients. Amenities are shown to be generally priced in both land and labor markets, with single market valuations tending to understate true amenity values. Establishing a correct multi-market amenity valuation model is seen to depend on the resolution of a host of additional issues.
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- Graves, Philip E., 1979.
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Journal of Urban Economics,
Elsevier, vol. 6(2), pages 135-147, April.
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- Graves, Philip E., 1983. "Migration with a composite amenity: the role of rents," MPRA Paper 19917, University Library of Munich, Germany.
- Roback, Jennifer, 1982. "Wages, Rents, and the Quality of Life," Journal of Political Economy, University of Chicago Press, vol. 90(6), pages 1257-78, December.
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