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Measuring Spillover Effects Of Residential Amenity Improvements Using Spatial Hedonic Approach, Shruti Bishan Tandon
UNLV Theses, Dissertations, Professional Papers, and Capstones
The purpose of this dissertation is to develop a methodology for the estimation of the appropriate welfare benefits in the presence of spillover externalities. The ability to capture influences of the not so easily observed variables allow spatial lag models to measure the direct and indirect spillover effects. The direct effect measures the value of the property in question and the indirect captures the influences of neighboring properties, through a spatial multiplier effect.
Kim et al. (2003) through a path breaking approach estimated welfare benefits of air quality improvement. Their methodology captured spillover effects of amenity changes that lump both ...