Spatial Variations in Amenity Values: New Evidence from Beijing, China

Wenjie Wu
Authors registered in the RePEc Author Service: 武文杰

SERC Discussion Papers from Centre for Economic Performance, LSE

Abstract: Using parks as an example, this paper explores the robustness and sources of spatial variation in the estimated amenity values using an extended geographically weighted regression (GWR) technique. This analysis, illustrated with estimates using geo-coded data from Beijing's residential land market, has three important implications. First, it provides a powerful estimation strategy to evaluate how sensitive GWR parameters are to unobserved amenities and complementarities between amenities. Second, it compares the spatial variation patterns for the marginal prices of proximity to parks, estimated using a range of GWR model specifications. The answers generated using the GWR approach still reveal a significant underlying problem of omitted variables. Finally, it highlights the importance of conceptualizing amenity values not just in terms of their structural characteristics but how those characteristics interact with or are conditioned by local social, economic, and other contextual characteristics.

Keywords: Land prices; parks; spatial variation; China (search for similar items in EconPapers)
JEL-codes: C21 Q51 R14 (search for similar items in EconPapers)
Date: 2012-06
New Economics Papers: this item is included in nep-geo, nep-tur and nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Related works:
Working Paper: Spatial variations in amenity values: new evidence from Beijing, China (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:cep:sercdp:0113

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