Buildings’ energy efficiency may affect real estate prices, but the literature suggests that the effects of green attributes and Energy Performance Certificate ratings on the value of residential properties in Europe are still variable across contexts. The adoption of methods able to appropriately investigate this issue is thus essential. In this framework and to support future studies, this paper offers a methodological review of scientific works on the topic published in the last five years. Our work does not only represent an update of other reviews, but it originally analyses the papers by a methodological viewpoint. Results highlight a progressive refinement of the research questions and methods adopted. Then, the increasing importance of concepts such as latent variables and green attributes in the real estate pricing process is detected and identified as a field to be furtherly explored. Finally, Structural Equation Modelling is proposed as a promising approach for future studies.
{"title":"Buildings’ energy performance, green attributes and real estate prices: methodological perspectives from the European literature","authors":"E. Fregonara, Irene Rubino","doi":"10.36253/aestim-10785","DOIUrl":"https://doi.org/10.36253/aestim-10785","url":null,"abstract":"Buildings’ energy efficiency may affect real estate prices, but the literature suggests that the effects of green attributes and Energy Performance Certificate ratings on the value of residential properties in Europe are still variable across contexts. The adoption of methods able to appropriately investigate this issue is thus essential. In this framework and to support future studies, this paper offers a methodological review of scientific works on the topic published in the last five years. Our work does not only represent an update of other reviews, but it originally analyses the papers by a methodological viewpoint. Results highlight a progressive refinement of the research questions and methods adopted. Then, the increasing importance of concepts such as latent variables and green attributes in the real estate pricing process is detected and identified as a field to be furtherly explored. Finally, Structural Equation Modelling is proposed as a promising approach for future studies.","PeriodicalId":53999,"journal":{"name":"Aestimum","volume":" ","pages":""},"PeriodicalIF":0.8,"publicationDate":"2021-09-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48632859","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
T. Tempesta, Isabella Foscolo, Nicola Nardin, G. Trentin
In the last 30 years, numerous studies analysed the factors that affect land prices mainly using the Hedonic Pricing method. These studies have shown that many factors can affect land prices (e.g. land and surrounding territory characteristics, accessibility, proximity to urban area, etc.). However, they rarely addressed the analysis of the reliability of the models by comparing the estimated values to the observed one. Attempting to face this problem, our study analysed the land market of the “Conegliano Valdobbiadene Prosecco Superiore PGDO” area. Despite the quite high coefficient of determination (r2 = 0.76) and statistical significance of the model parameters, we found that the percentage absolute deviation between observed and estimated value is higher than 30% in 34% of cases. Our results seem to suggest that future researches should devote particular attention to the analysis of the discrepancies existing between estimated values and market prices in order to support the appraisal activity of professional valuers.
{"title":"Farmland value in the “Conegliano Valdobbiadene Prosecco Superiore PGDO” area. An application of the Hedonic Pricing method.","authors":"T. Tempesta, Isabella Foscolo, Nicola Nardin, G. Trentin","doi":"10.36253/aestim-10826","DOIUrl":"https://doi.org/10.36253/aestim-10826","url":null,"abstract":"In the last 30 years, numerous studies analysed the factors that affect land prices mainly using the Hedonic Pricing method. These studies have shown that many factors can affect land prices (e.g. land and surrounding territory characteristics, accessibility, proximity to urban area, etc.). However, they rarely addressed the analysis of the reliability of the models by comparing the estimated values to the observed one. Attempting to face this problem, our study analysed the land market of the “Conegliano Valdobbiadene Prosecco Superiore PGDO” area. Despite the quite high coefficient of determination (r2 = 0.76) and statistical significance of the model parameters, we found that the percentage absolute deviation between observed and estimated value is higher than 30% in 34% of cases. Our results seem to suggest that future researches should devote particular attention to the analysis of the discrepancies existing between estimated values and market prices in order to support the appraisal activity of professional valuers.","PeriodicalId":53999,"journal":{"name":"Aestimum","volume":" ","pages":""},"PeriodicalIF":0.8,"publicationDate":"2021-08-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49512537","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Francesca Nocca, P. D. Toro, Viktoriya Voysekhovska
The paradigm shift towards a more humanistic and ecological paradigm evoked by United Nations and the Green Deal is increasingly required in this period of growing unsustainability, especially during ongoing COVID-19 pandemic. The challenge today is to reduce poverty and inequalities, while preserving the vitality of natural ecosystems and ensuring inclusive economic growth and wellbeing, both now and in the future, thus including future generations. To this end, new models for city development and new tools for operationalizing them are necessary. This paper is focused on the circular economy model and, in particular, on the functional reuse of cultural heritage as the entry point for triggering circular processes in the cities. The attention is focused on the evaluation tools and a methodological proposal is presented starting from the Level(s) tool (developed by European Commission) for assessing the multidimensional impacts of cultural heritage functional reuse projects in the circular economy perspective.
{"title":"Circular economy and cultural heritage conservation: a proposal for integrating Level(s) evaluation tool","authors":"Francesca Nocca, P. D. Toro, Viktoriya Voysekhovska","doi":"10.36253/aestim-10119","DOIUrl":"https://doi.org/10.36253/aestim-10119","url":null,"abstract":"The paradigm shift towards a more humanistic and ecological paradigm evoked by United Nations and the Green Deal is increasingly required in this period of growing unsustainability, especially during ongoing COVID-19 pandemic. The challenge today is to reduce poverty and inequalities, while preserving the vitality of natural ecosystems and ensuring inclusive economic growth and wellbeing, both now and in the future, thus including future generations. To this end, new models for city development and new tools for operationalizing them are necessary. This paper is focused on the circular economy model and, in particular, on the functional reuse of cultural heritage as the entry point for triggering circular processes in the cities. The attention is focused on the evaluation tools and a methodological proposal is presented starting from the Level(s) tool (developed by European Commission) for assessing the multidimensional impacts of cultural heritage functional reuse projects in the circular economy perspective.","PeriodicalId":53999,"journal":{"name":"Aestimum","volume":" ","pages":""},"PeriodicalIF":0.8,"publicationDate":"2021-08-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47787408","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Opportunity-spaces for self-regenerative processes: assessing the intrinsic value of complex peri-urban systems","authors":"M. Cerreta, M. Reitano","doi":"10.13128/AESTIM-8511","DOIUrl":"https://doi.org/10.13128/AESTIM-8511","url":null,"abstract":"","PeriodicalId":53999,"journal":{"name":"Aestimum","volume":"1 1","pages":""},"PeriodicalIF":0.8,"publicationDate":"2021-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41635672","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The role of fiscal and monetary policy in stimulating Circular Economy in Iraq","authors":"S. Hussein, A. Hamdan","doi":"10.13128/AESTIM-8095","DOIUrl":"https://doi.org/10.13128/AESTIM-8095","url":null,"abstract":"","PeriodicalId":53999,"journal":{"name":"Aestimum","volume":" ","pages":""},"PeriodicalIF":0.8,"publicationDate":"2021-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48131679","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
R. Zucaro, S. Conti, F. Marangon, A. Massarutto, Stefania Troiano
The evaluation of the externalities produced by the use of water for irrigation methodology is applied in this Study to highlight how irrigation contributes to the production of eco-system services and to increase the availability of environmental assets for free use, determining a variation in the collective well-being, whose monetary measure can be quantified in the willingness to pay for the users.
{"title":"Le esternalità ambientali dell’irrigazione in Italia","authors":"R. Zucaro, S. Conti, F. Marangon, A. Massarutto, Stefania Troiano","doi":"10.13128/AESTIM-9084","DOIUrl":"https://doi.org/10.13128/AESTIM-9084","url":null,"abstract":"The evaluation of the externalities produced by the use of water for irrigation methodology is applied in this Study to highlight how irrigation contributes to the production of eco-system services and to increase the availability of environmental assets for free use, determining a variation in the collective well-being, whose monetary measure can be quantified in the willingness to pay for the users.","PeriodicalId":53999,"journal":{"name":"Aestimum","volume":"1 1","pages":"59-77"},"PeriodicalIF":0.8,"publicationDate":"2020-06-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47293738","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
L. Cecchini, M. Chiorri, Antonio Pierri, B. Torquati
Focusing on olive oil sector in central Italy, this paper proposes a decision support system for olive growers in order to: i) identify the optimal crop management in the hypothesis of maximizing gross farm income and maximizing a landscape integrity index; ii) simulate the effects of different policy and market scenarios.Results from multi-objective integer optimization models showed that the solution obtained by maximizing the gross income foresees the intensive crop management and the complete allocation of the farm area to newly planted olive groves. The traditional crop management is chosen when the landscape integrity index is maximized. However, only a 30% increase of the Extra Virgin Olive Oil price from ancient and traditionally managed olive groves could ensure their complete maintenance.
{"title":"Olivicoltura tradizionale fra intensivizzazione e paesaggio: un modello di programmazione matematica multiobiettivo a numeri interi","authors":"L. Cecchini, M. Chiorri, Antonio Pierri, B. Torquati","doi":"10.13128/AESTIM-7868","DOIUrl":"https://doi.org/10.13128/AESTIM-7868","url":null,"abstract":"Focusing on olive oil sector in central Italy, this paper proposes a decision support system for olive growers in order to: i) identify the optimal crop management in the hypothesis of maximizing gross farm income and maximizing a landscape integrity index; ii) simulate the effects of different policy and market scenarios.Results from multi-objective integer optimization models showed that the solution obtained by maximizing the gross income foresees the intensive crop management and the complete allocation of the farm area to newly planted olive groves. The traditional crop management is chosen when the landscape integrity index is maximized. However, only a 30% increase of the Extra Virgin Olive Oil price from ancient and traditionally managed olive groves could ensure their complete maintenance.","PeriodicalId":53999,"journal":{"name":"Aestimum","volume":"1 1","pages":"43-57"},"PeriodicalIF":0.8,"publicationDate":"2020-06-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49262628","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We suggest a novel approach to analyze revealed preference heterogeneity in recreation random utility maximization models when information about users is limited to their place of residence. We assume that recreationists living in the same place act as a “cohort” and that their preferences are hence homogeneous. We adopt a location-specific distribution criterion. We empirically test the suitability of this spatial approach by comparing its econometric performance and welfare estimates with that of the standard individual framework. We use data on hunting in Sicily to empirically test the cohort approach. Results from individual-specific and location-specific mixed logit models suggest that econometric performance improves when modeling heterogeneity with a location-specific conditional distribution. Further, marginal willingness-to-pay mean values and distributions for site characteristics differ significantly.
{"title":"Modeling preference heterogeneity in recreation random utility models when relevant information about users is limited","authors":"M. Salvo, G. Cucuzza, C. Prato, G. Signorello","doi":"10.13128/AESTIM-7792","DOIUrl":"https://doi.org/10.13128/AESTIM-7792","url":null,"abstract":"We suggest a novel approach to analyze revealed preference heterogeneity in recreation random utility maximization models when information about users is limited to their place of residence. We assume that recreationists living in the same place act as a “cohort” and that their preferences are hence homogeneous. We adopt a location-specific distribution criterion. We empirically test the suitability of this spatial approach by comparing its econometric performance and welfare estimates with that of the standard individual framework. We use data on hunting in Sicily to empirically test the cohort approach. Results from individual-specific and location-specific mixed logit models suggest that econometric performance improves when modeling heterogeneity with a location-specific conditional distribution. Further, marginal willingness-to-pay mean values and distributions for site characteristics differ significantly.","PeriodicalId":53999,"journal":{"name":"Aestimum","volume":"1 1","pages":"5-17"},"PeriodicalIF":0.8,"publicationDate":"2020-06-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43671430","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
I. Bernetti, Lorenzo Bambi, Elena Barbierato, Tommaso Borghini, Irene Capecchi
Renewable energies are fundamental to future development. Such technologies reduce air pollution and improve air quality; however, they can generate other types of environmental problems, which must be investigated. The location of structures is one of these problems, which involves visual impacts and is a primary factor affecting public reaction. Our work was concerned with the visual impact and the alterations to the landscape made by wind turbines. The main goal was to establish the factors and attributes of a wind farm that determine the perception and aesthetic preferences of people, with a particular emphasis on representatives of Generation Y. This group was chosen because they represent the most dynamic, innovative, and creative social group. Thus, we proposed some design strategies to reduce the visual impact of wind turbines.
{"title":"A decision support system for assessing the perception and acceptance of WTs in high-value landscapes: The case of Chianti Classico (Italy)","authors":"I. Bernetti, Lorenzo Bambi, Elena Barbierato, Tommaso Borghini, Irene Capecchi","doi":"10.13128/AESTIM-7854","DOIUrl":"https://doi.org/10.13128/AESTIM-7854","url":null,"abstract":"Renewable energies are fundamental to future development. Such technologies reduce air pollution and improve air quality; however, they can generate other types of environmental problems, which must be investigated. The location of structures is one of these problems, which involves visual impacts and is a primary factor affecting public reaction. Our work was concerned with the visual impact and the alterations to the landscape made by wind turbines. The main goal was to establish the factors and attributes of a wind farm that determine the perception and aesthetic preferences of people, with a particular emphasis on representatives of Generation Y. This group was chosen because they represent the most dynamic, innovative, and creative social group. Thus, we proposed some design strategies to reduce the visual impact of wind turbines.","PeriodicalId":53999,"journal":{"name":"Aestimum","volume":"1 1","pages":"19-42"},"PeriodicalIF":0.8,"publicationDate":"2020-06-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45379406","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
S. R. Sari, Muhammad Fariz Hilmy, E. Hendro, D. Iswanto
Bustaman village, a village that has a long history with various traditions in it, has received support from the city government and the arts community to care about the village. However, this support is meaningless if residents do not contribute to the preservation of their village. Although tradition and daily activity are still ongoing, it is not yet sufficient enough to maintain the sustainability of Bustaman Village. With qualitative methods, this study will explain the phenomenon and the sustainability of Bustaman village. The output of this research is the strategy of developing the sustainability of Bustaman Village as a community-based tourism village.
{"title":"Maintain Sustainability of Historic Village as Tourism Village. The Case of Bustaman Village in Semarang, Indonesia","authors":"S. R. Sari, Muhammad Fariz Hilmy, E. Hendro, D. Iswanto","doi":"10.13128/AESTIM-8284","DOIUrl":"https://doi.org/10.13128/AESTIM-8284","url":null,"abstract":"Bustaman village, a village that has a long history with various traditions in it, has received support from the city government and the arts community to care about the village. However, this support is meaningless if residents do not contribute to the preservation of their village. Although tradition and daily activity are still ongoing, it is not yet sufficient enough to maintain the sustainability of Bustaman Village. With qualitative methods, this study will explain the phenomenon and the sustainability of Bustaman village. The output of this research is the strategy of developing the sustainability of Bustaman Village as a community-based tourism village.","PeriodicalId":53999,"journal":{"name":"Aestimum","volume":"1 1","pages":"79-98"},"PeriodicalIF":0.8,"publicationDate":"2020-06-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46096839","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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