Kristen Swedberg, Diego S Cardoso, Adriana Castillo-Castillo, Saleh Mamun, Kevin J Boyle, Christoph Nolte, Michael Papenfus, Stephen Polasky
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Spatial Heterogeneity in Hedonic Price Effects for Lake Water Quality.
This study uses Zillow's ZTRAX property transaction database to investigate variation in hedonic price effects of water clarity on single-family houses throughout the United States. We consider five spatial scales and estimate models using different sample selection criteria and model specifications. Our results indicate considerable spatial heterogeneity both within and across the four U.S. Census regions. However, we also find heterogeneity resulting from different types of investigator decisions, including sample selection and modelling choices. Thus, it is necessary to use practical knowledge to consider the limits of market areas and to investigate the robustness of estimation results to investigator choices. (JEL Q51).
期刊介绍:
Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance.
Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.