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Measuring Spillover Effects Of Residential Amenity Improvement Using Spatial Hedonic Approach, Shruti Tandon
Measuring Spillover Effects Of Residential Amenity Improvement Using Spatial Hedonic Approach, Shruti Tandon
Graduate Research Symposium (GCUA) (2010 - 2017)
Spillover externalities can be explained as influences of the prices of neighboring properties on the price of a given one. Suppose there is a price change or changes in the amenity levels in a neighborhood. The effect of this change would be experienced by properties in a close proximity and the prices of the properties in close proximity might help explain the price of the property of interest. In the context of welfare valuation, this feature of spatial price interdependence or spillover effects has only recently received attention. Spatial lag models are one of the many spatial econometric methods used …