The Effect of a Sports Stadium on Housing Rents: An Application of Geographically Weighted Regression
Researchers have determined that real estate prices vary in continuous ways as a function of spatial characteristics. In this study we examine whether geographically weighted regression (GWR) provides different estimates of price effects around a sports stadium than more traditional regression tech...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Universidad EAFIT
2015-06-01
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| Series: | Ecos de Economía |
| Subjects: | |
| Online Access: | http://publicaciones.eafit.edu.co/index.php/ecos-economia/article/view/3045 |
| Summary: | Researchers have determined that real estate prices vary in continuous ways as a function of spatial characteristics. In this study we examine whether geographically weighted regression (GWR) provides different estimates of price effects around a sports stadium than more traditional regression techniques. We find that an application of GWR with hedonic prices finds that the stadium has a negative external effect on housing rents that extends outward 560 meters, in contrast to the positive external effect on housing rents found using a conventional estimation technique. |
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| ISSN: | 1657-4206 |