Hedonic Methods In Housing Markets

Author : Andrea Baranzini,José Ramirez,Caroline Schaerer,Philippe Thalmann
Publisher : Springer Science & Business Media
Page : 283 pages
File Size : 51,5 Mb
Release : 2008-09-20
Category : Business & Economics
ISBN : 9780387768151

Get Book

Hedonic Methods in Housing Markets by Andrea Baranzini,José Ramirez,Caroline Schaerer,Philippe Thalmann Pdf

Cities are growing worldwide and their sprawl is increasingly challenged for its pressure on open spaces and environmental quality. Economic arguments can help to decide about the trade-off between preserving environmental quality and developing housing and business surfaces, provided the benefits of environmental quality are adequately quantified. To this end, this book focuses on the use and advancement of the “hedonic approach”, an economic valuation technique that analyses and quantifies the sources of rent and property price differentials. Starting from theoretical foundations, the hedonic approach is applied to the valuation of natural land use preservation and noise abatement measures, as well as to residential segregation and discrimination, extending the analysis to the role of the buyers and sellers' identity on housing market prices and to the issue of environmental justice.

Author : Mario Andres Fernandez
Publisher : Unknown
Page : 24 pages
File Size : 42,6 Mb
Release : 2019
Category : Electronic
ISBN : 1988589541

Get Book

A Review of Applications of Hedonic Pricing Models in the New Zealand Housing Market by Mario Andres Fernandez Pdf

Author : A. Goodman,R. Muth
Publisher : Taylor & Francis
Page : 165 pages
File Size : 42,6 Mb
Release : 2013-07-04
Category : Business & Economics
ISBN : 9781136461064

Get Book

The Economics of Housing Markets by A. Goodman,R. Muth Pdf

A state of the art overview of theoretical and empirical aspects of housing market research.

Author : Patricia A. Champ,Kevin J. Boyle,Thomas C. Brown
Publisher : Springer
Page : 504 pages
File Size : 54,5 Mb
Release : 2017-02-08
Category : Business & Economics
ISBN : 9789400771048

Get Book

A Primer on Nonmarket Valuation by Patricia A. Champ,Kevin J. Boyle,Thomas C. Brown Pdf

This is a practical book with clear descriptions of the most commonly used nonmarket methods. The first chapters of the book provide the context and theoretical foundation of nonmarket valuation along with a discussion of data collection procedures. The middle chapters describe the major stated- and revealed-preference valuation methods. For each method, the steps involved in implementation are laid out and carefully explained with supporting references from the published literature. The final chapters of the book examine the relevance of experimentation to economic valuation, the transfer of existing nonmarket values to new settings, and assessments of the reliability and validity of nonmarket values. The book is relevant to individuals in many professions at all career levels. Professionals in government agencies, attorneys involved with natural resource damage assessments, graduate students, and others will appreciate the thorough descriptions of how to design, implement, and analyze a nonmarket valuation study.

Author : Scott Orford
Publisher : Routledge
Page : 232 pages
File Size : 40,8 Mb
Release : 2017-09-08
Category : Science
ISBN : 9781351876148

Get Book

Valuing the Built Environment by Scott Orford Pdf

This book critically assesses the hedonic pricing technique as a method of imputing monetary values for the implicit attributes of housing. The hedonic technique is widely used, particularly in the US, but increasingly in Europe and Asia and has proved to yield important results and influence cost-benefit analysis. Scott Orford breaks new ground in this volume by exploring hedonic house price models within a geographical rather than purely economic context. He reevaluates the microeconomic theory of housing markets and concludes that only by treating housing market dynamics as inherently spatial can empirical results conform to the theory that underpins them. He also makes conclusions with respect to locational externalities, which have important implications as to how the built environment is valued.

Author : Olympia Bover
Publisher : Unknown
Page : 58 pages
File Size : 45,7 Mb
Release : 2004
Category : Electronic
ISBN : OCLC:1291246123

Get Book

Hedonic House Prices Without Characteristics by Olympia Bover Pdf

In this paper we propose an alternative to traditional hedonics for estimating new multiunit housing inflation, adjusting for quality changes. By relying on the within-site variation we control in a very general way for unobserved housing characteristics using site-specific effects. Precise location, transport, traffic, closeness to services, or construction quality are some of the unobserved but typically relevant housing characteristics that may bias estimated house price inflation, even when using hedonic methods. We also estimate standard hedonic equations and compare the results to those obtained with the alternative hedonic equations with site dummies. Our dataset is fairly rich in observable housing characteristics but, nevertheless, the quality-adjusted house price evolution is quite different in some cases. The data cover the construction of new housing in some of the large Spanish cities and in the smaller towns on the outskirts of the capital during part of the 1990s.

Author : Richard K. Green,Stephen Malpezzi
Publisher : The Urban Insitute
Page : 240 pages
File Size : 48,5 Mb
Release : 2003
Category : Political Science
ISBN : 0877667020

Get Book

A Primer on U.S. Housing Markets and Housing Policy by Richard K. Green,Stephen Malpezzi Pdf

The first book that explains the economics of housing policy for a general audience. Planners, government officials, and public policy students will find that the economic perspective is a very powerful and useful way to examine these issues. The authors provide a broad review of the market for housing services in the U.S., including a conceptual framework, an overview of housing demand and supply, methods for measuring prices and quantities, and sources of basic data on markets. They cover housing programs and polices, and offer answers to policy questions that are of current interest. The book has been field-tested in graduate and undergraduate courses in urban and housing economics at the University of Wisconsin, the University of California--Berkeley, The University of Pennsylvania, and others. This book is also sure to be useful to policymakers, advocates, economists, and anyone interested in a clear picture of how housing markets function. Published in cooperation with the American Real Estate and Urban Economics Association (AREUEA).

Author : Susan J. Smith,Moira Munro
Publisher : Routledge
Page : 217 pages
File Size : 49,8 Mb
Release : 2013-10-31
Category : Business & Economics
ISBN : 9781317968030

Get Book

The Microstructures of Housing Markets by Susan J. Smith,Moira Munro Pdf

House prices and mortgage debt have moved to centre stage in the management of national economies, regional development and neighbourhood change. Describing, analysing and understanding how housing markets work within and across these scales of economy and society has never been more urgent. But much more is known about the macro-scales than the microstructures; and about the economic rather than social drivers of housing market dynamics. This book redresses the balance. It shows that housing markets are social, cultural and psychological – as well as economic – affairs. This multidisciplinary approach is helpful in understanding the economic staples of supply, demand, price and information. It also casts new light on the emotional and political economy of markets.

Author : Rita Yi Man Li,Kwong Wing Chau
Publisher : Routledge
Page : 199 pages
File Size : 47,6 Mb
Release : 2016-03-31
Category : Business & Economics
ISBN : 9781317587927

Get Book

Econometric Analyses of International Housing Markets by Rita Yi Man Li,Kwong Wing Chau Pdf

This book explores how econometric modelling can be used to provide valuable insight into international housing markets. Initially describing the role of econometrics modelling in real estate market research and how it has developed in recent years, the book goes on to compare and contrast the impact of various macroeconomic factors on developed and developing housing markets. Explaining the similarities and differences in the impact of financial crises on housing markets around the world, the author's econometric analysis of housing markets across the world provides a broad and nuanced perspective on the impact of both international financial markets and local macro economy on housing markets. With discussion of countries such as China, Germany, UK, US and South Africa, the lessons learned will be of interest to scholars of Real Estate economics around the world.

Author : James R. Follain,Stephen Malpezzi
Publisher : Urban Institute Press
Page : 152 pages
File Size : 46,9 Mb
Release : 1980
Category : Business & Economics
ISBN : UOM:39015004971019

Get Book

Dissecting Housing Value and Rent by James R. Follain,Stephen Malpezzi Pdf

Author : Marko Hannonen
Publisher : Suomen E-painos Oy
Page : 51 pages
File Size : 52,8 Mb
Release : 2024-06-30
Category : Mathematics
ISBN : 9789526613765

Get Book

House Price Methodology by Marko Hannonen Pdf

This booklet discusses some major methodological issues relating to the construction of house price models on a macro level. There is no single method that always produces the optimal results; the choice of a particular approach, method, theory, model and technique is context-dependent. This is especially true in housing markets, where a multitude of different submarkets exist. The methodology chosen should be based on sound theory, from which the basic concepts of analysis can be derived. This booklet discusses the use of potential models, which can be constructed using a general field theory, and which act as a theoretical foundation for further analysis. If we use potential models for house price analysis we can discover additional features from the data set that other approaches would simply miss. This e-book presents a pragmatic overview of key methodological concerns with the emphasis on the use of potential models. Theoretical methodological questions are left unanswered, and are not even presented in this text, since they have little relevancy to real-world modelling questions.

Author : Anthony O'Sullivan,Kenneth Gibb
Publisher : John Wiley & Sons
Page : 352 pages
File Size : 42,7 Mb
Release : 2008-04-15
Category : Business & Economics
ISBN : 9780470680414

Get Book

Housing Economics and Public Policy by Anthony O'Sullivan,Kenneth Gibb Pdf

This book is a timely assessment of 20 years of progress in the field of housing economics and its application to policy and practice. Two decades on from the publication of Duncan Maclennan's influential Housing Economics, 16 leading housing experts - both academics and policy makers from across the world - now honour Maclennan's contributions. The chapters here present a contemporary survey of key issues in housing, from urban housing markets and sub-market modelling, to the economics of social housing, the basis for housing planning, economic analysis of neighbourhoods, and the connections between academic work and policy development. For students, researchers and practitioners in housing, urban economics and social policy, Housing Economics and Public Policy: . provides up to date and comprehensive reviews of major areas of the housing economics literature . sheds light on the economic, social and spatial processes that affect housing . includes discussion of major areas of cutting edge housing economics research and identifies continuing gaps . presents a synthesis of housing economics research on both sides of the Atlantic . assesses the impact of theory on policy and practice

Author : Geoffrey Meen
Publisher : Springer Science & Business Media
Page : 279 pages
File Size : 50,5 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9781461516736

Get Book

Modelling Spatial Housing Markets by Geoffrey Meen Pdf

Spatial fixity is one of the characteristics that distinguishes housing from most other goods and services in the economy. In general, housing cannot be moved from one part of the country to another in response to shortages or excesses in particular areas. The modelling of housing markets and the interlinkages between markets at different spatial levels - international, national, regional and urban - are the main themes of this book. A second major theme is disaggregation, not only in terms of space, but also between households. The book argues that aggregate time-series models of housing markets of the type widely used in Britain and also in other countries in the past have become less relevant in a world of increasing income dispersion. Typically, aggregate relationships will break down, except under special conditions. We can no longer assume that traditional location or tenure patterns, for example, will continue in the future. The book has four main components. First, it discusses trends in housing markets both internationally and within nations. Second, the book develops theoretical housing models at each spatial scale, starting with national models, moving down to the regional level and, then, to urban models. Third, the book provides empirical estimates of the models and, finally, the models are used for policy analysis. Analysis ranges over a wide variety of topics, including explanations for differing international house price trends, the causes of housing cycles, the role of credit markets, regional housing market interactions and the role of housing in urban/suburban population drift.

Author : Jerome Rothenberg
Publisher : University of Chicago Press
Page : 570 pages
File Size : 51,8 Mb
Release : 1991-11-15
Category : Business & Economics
ISBN : 0226729516

Get Book

The Maze of Urban Housing Markets by Jerome Rothenberg Pdf

This powerful new theoretical approach to analyzing urban housing problems and the policies designed to rectify them will be a vital resource for urban planners, developers, policymakers, and economists. The search for the roots of serious urban housing problems such as homelessness, abandonment, rent burdens, slums, and gentrification has traditionally focused on the poorest sector of the housing market. The findings set forth in this volume show that the roots of such problems lie in the relationships among different parts of the market—not solely within the lower-quality portion—though that is where problems are most dramatically manifested and housing reforms are myopically focused. The authors propose a new understanding of the market structure characterized by a closely interrelated array of quality submarkets. Their comprehensive models ground a unified theory that accounts for demand by both renters and owner occupants, supply by owners of existing dwellings, changes in the stock of housing due to conversions and new construction, and interactions across submarkets.

Author : Cheng-Few Lee,John C. Lee
Publisher : Springer
Page : 0 pages
File Size : 49,9 Mb
Release : 2014-09-28
Category : Business & Economics
ISBN : 1461477492

Get Book

Handbook of Financial Econometrics and Statistics by Cheng-Few Lee,John C. Lee Pdf

​The Handbook of Financial Econometrics and Statistics provides, in four volumes and over 100 chapters, a comprehensive overview of the primary methodologies in econometrics and statistics as applied to financial research. Including overviews of key concepts by the editors and in-depth contributions from leading scholars around the world, the Handbook is the definitive resource for both classic and cutting-edge theories, policies, and analytical techniques in the field. Volume 1 (Parts I and II) covers all of the essential theoretical and empirical approaches. Volumes 2, 3, and 4 feature contributed entries that showcase the application of financial econometrics and statistics to such topics as asset pricing, investment and portfolio research, option pricing, mutual funds, and financial accounting research. Throughout, the Handbook offers illustrative case examples and applications, worked equations, and extensive references, and includes both subject and author indices.​