Description

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.

Valuing the Built Environment: GIS and House Price Analysis

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Hardback by Scott Orford

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This book critically assesses the hedonic pricing technique as a method of imputing monetary values for the implicit attributes of... Read more

    Publisher: Taylor & Francis Ltd
    Publication Date: 28/08/1999
    ISBN13: 9780754610120, 978-0754610120
    ISBN10: 0754610128

    Number of Pages: 232

    Non Fiction , Earth Sciences, Geography & Environment , Education

    Description

    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.

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