Journal
JOURNAL OF REAL ESTATE FINANCE AND ECONOMICS
Volume 22, Issue 2-3, Pages 239-252Publisher
KLUWER ACADEMIC PUBL
DOI: 10.1023/A:1007895631071
Keywords
hedonic valuation method (HVM); open-space amenities; land use; census data
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Hedonic price models for determining marginal implicit prices of open-space amenities and nonresidential land use were estimated using housing data from the census. Alternative model specifications were compared to evaluate the effects of aggregating land-use data by alternative levels of census geography as well as the use of different sample sizes of census blocks. It was determined that land use is best aggregated at the block group level and that entire populations or very large sample sizes of census blocks should be used with hedonic models.
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