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Books > Business & Economics > Finance & accounting > Finance > Property & real estate
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Valuing the Built Environment - GIS and House Price Analysis (Hardcover, New Ed)
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Valuing the Built Environment - GIS and House Price Analysis (Hardcover, New Ed)
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This book critically assesses the hedonic pricing technique as a
method of imputing monetary values for the implicit attributes of
housing. The hedonic technique is widely used, particularly in the
US, but increasingly in Europe and Asia and has proved to yield
important results and influence cost-benefit analysis. Scott Orford
breaks new ground in this volume by exploring hedonic house price
models within a geographical rather than purely economic context.
He reevaluates the microeconomic theory of housing markets and
concludes that only by treating housing market dynamics as
inherently spatial can empirical results conform to the theory that
underpins them. He also makes conclusions with respect to
locational externalities, which have important implications as to
how the built environment is valued.
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