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

Philip Graves () and Thomas A. Knapp

The Economic Record, 1985, vol. 61, issue 4, 737-743

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.

Date: 1985
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https://doi.org/10.1111/j.1475-4932.1985.tb02029.x

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Working Paper: Hedonic analysis in a spatial context: theoretical problems in valuing location-specific amenities (1985)
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