Spatial Heterogeneity in Hedonic Price Effects for Lake Water Quality

Kristen Swedberg, Diego Cardoso, Adriana Castillo-Castillo, Saleh Mamun, Kevin Boyle, Christoph Nolte, Michael Papenfus and Stephen Polasky

Land Economics, 2024, vol. 100, issue 1, 89-108

Abstract: This study uses Zillow’s Transaction and Assessment Database to investigate variation in hedonic price effects of water clarity on single-family houses throughout the United States. We consider five spatial scales and estimate models using different sample selection criteria and model specifications. The results indicate considerable spatial heterogeneity within and across the four U.S. census regions. However, we also find heterogeneity resulting from different types of investigator decisions, including sample selection and modeling choices. Thus, it is necessary to use practical knowledge to consider the limits of market areas and to investigate the robustness of estimation results to investigator choices.

JEL-codes: Q51 (search for similar items in EconPapers)
Date: 2024
Note: DOI: https://doi.org/10.3368/le.100.1.102122-0086R
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Persistent link: https://EconPapers.repec.org/RePEc:uwp:landec:v:100:y:2024:i:1:p:89-108

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