Hedonic Methods in Housing Markets

1. Front Matter

   Pages I-XXI

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2. Methods

   1. Introduction

      • Andrea Baranzini, José V. Ramirez, Caroline Schaerer, Philippe Thalmann

      Pages 1-12

   2. Theoretical Foundations and Empirical Developments in Hedonic Modeling

      • Laura O. Taylor

      Pages 15-37

   3. Hedonic Modeling of the Home Selling Process

      • John R. Knight

      Pages 39-54

3. Applications to Urban Environment Issues

   1. Hedonic Property Value Studies of Transportation Noise: Aircraft and Road Traffic

      • Jon P. Nelson

      Pages 57-82

   2. Pricing the Homebuyer’s Countryside View

      • Jean Cavailhès, Thierry Brossard, Mohamed Hilal, Daniel Joly, François-Pierre Tourneux, Céline Tritz et al.

      Pages 83-99

   3. Semi-Parametric Tools for Spatial Hedonic Models: An Introduction to Mixed Geographically Weighted Regression and Geoadditive Models

      • Ghislain Geniaux, Claude Napoléone

      Pages 101-127

   4. Estimating Hedonic Models of Consumer Demand with an Application to Urban Sprawl

      • Patrick Bajari, Matthew E. Kahn

      Pages 129-155

4. Applications to Segregation and Discrimination Issues

   1. Conceptual and Operational Issues in Incorporating Segregation Measurements in Hedonic Price Modeling

      • David W. S. Wong

      Pages 159-175

   2. Using Hedonic Models to Measure Racial Discrimination and Prejudice in the U.S. Housing Market

      • Jeffrey E. Zabel

      Pages 177-201

   3. The Problem with Environmental Justice Studies (And How Hedonics Can Help)

      • Diane Hite

      Pages 203-224

   4. Distinguishing Racial Preferences in the Housing Market: Theory and Evidence

      • Patrick Bayer, Robert McMillan

      Pages 225-244

5. Back Matter

   Pages 245-278

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Cities are growing worldwide and their sprawl is increasingly challenged for its pressure on open spaces and environmental quality. Economic arguments can help to decide about the trade-off between preserving environmental quality and developing housing and business surfaces, provided the benefits of environmental quality are adequately quantified. To this end, this book focuses on the use and advancement of the “hedonic approach”, an economic valuation technique that analyses and quantifies the sources of rent and property price differentials. Starting from theoretical foundations, the hedonic approach is applied to the valuation of natural land use preservation and noise abatement measures, as well as to residential segregation and discrimination, extending the analysis to the role of the buyers and sellers' identity on housing market prices and to the issue of environmental justice.

• Environmental Economics
• Hedonic Model
• Housing Market
• Price Discrimination
• Segregation
• Smart Development
• linear optimization

From the reviews:

“This book provides a very useful presentation of the theory and empirics of hedonic pricing. … overall structure of the book addresses clearly the theoretical development of the hedonic price model and its empirical applications in multiple subfields. … most use to the applied urban researcher … . The authors use figures and maps to show the importance of being able to visualize one’s econometric results, especially in an area so rooted in spatial relationships as housing markets.” (Clifford A. Lipscomb, The Review of Regional Studies, Vol. 38 (1), 2008)

• Geneva School of Business Administration (HEG Genève), University of Applied Sciences Western Switzerland, Switzerland

  Andrea Baranzini, José Ramirez, Caroline Schaerer

• École Polytechnique Fédérale de Lausanne, Switzerland

  Philippe Thalmann

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