Interpolation des mesures de la qualité de l'air dans les modèles hédoniste de l'estimation immobilière: Aspects spatiaux

Translated title of the contribution: Interpolation of air quality measures in hedonic house price models: Spatial aspects

Luc Anselin, Julie Le Gallo

Research output: Contribution to journalArticle

125 Scopus citations

Abstract

This paper investigates the sensitivity of hedonic models of house prices to the spatial interpolation of measures of air quality. We consider three aspects of this question: the interpolation technique used, the inclusion of air quality as a continuous vs discrete variable in the model, and the estimation method. Using a sample of 115,732 individual house sales for 1999 in the South Coast Air Quality Management District of Southern California, we compare Thiessen polygons, inverse distance weighting, Kriging and splines to carry out spatial interpolation of point measures of ozone obtained at 27 air quality monitoring stations to the locations of the houses. We take a spatial econometric perspective and employ both maximum-likelihood and general method of moments techniques in the estimation of the hedonic. A high degree of residual spatial autocorrelation warrants the inclusion of a spatially lagged dependent variable in the regression model. We find significant differences across interpolators in the coefficients of ozone, as well as in the estimates of willingness to pay. Overall, the Kriging technique provides the best results in terms of estimates (signs), model fit and interpretation. There is some indication that the use of a categorical measure for ozone is superior to a continuous one.

Translated title of the contributionInterpolation of air quality measures in hedonic house price models: Spatial aspects
Original languageFrench
Pages (from-to)31-52
Number of pages22
JournalSpatial Economic Analysis
Volume1
Issue number1
DOIs
StatePublished - Dec 1 2006

Keywords

  • Air quality valuation
  • Hedonics
  • Real estate
  • Spatial econometrics
  • Spatial interpolation

ASJC Scopus subject areas

  • Geography, Planning and Development
  • Economics, Econometrics and Finance(all)
  • Statistics, Probability and Uncertainty
  • Earth and Planetary Sciences (miscellaneous)

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