Geostatistical Air Pollution Indexes in Spatial Hedonic Models: The Case of Madrid, Spain

Gema Fernández-Avilés, Román Mínguez, and José-María Montero

Journal of Real Estate Research, 2012, vol. 34, issue 2, 243-274

Abstract: Recent work has shown how spatial econometrics can be applied to a housing-value hedonic equation that includes air pollution variables. This paper develops a Spatial Durbin Model that incorporates an Air Pollution Index, instead of one or two pollution variables, and considers spatial and non-spatial endogeneity jointly. Exogenous and endogenous possibilities are considered for the index. The empirical analysis focuses on a European city, Madrid. A massive database was constructed for the analysis in 2009 that includes almost 12,000 dwellings.

Date: 2012
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DOI: 10.1080/10835547.2012.12091330

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