Hedonic Analysis in a Spatial Context: Theoretical Problems in Valuing Location‐Specific Amenities

PHILIP E. GRAVES, THOMAS A. KNAPP

Research output: Contribution to journalArticle

8 Scopus citations

Abstract

Hedonic analysis is frequently implemented to generate implicit prices for location‐specific amenities within single markets, either in cross‐city wage differentials or in intra‐city rent gradients. Amenities are shown to be generally priced in both land and labour markets, with single‐market valuations tending to understate true amenity values. Establishing a correct multi‐market amenity valuation model is seen to depend on the resolution of a host of additional issues.

Original languageEnglish (US)
Pages (from-to)737-743
Number of pages7
JournalEconomic Record
Volume61
Issue number4
DOIs
StatePublished - Dec 1985

All Science Journal Classification (ASJC) codes

  • Economics and Econometrics

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