Modelling hedonic residential rents for land use and transport simulation while considering spatial effects
Open access
Date
2009Type
- Working Paper
ETH Bibliography
yes
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Abstract
The application of UrbanSim requires land or real estate price data for the study area. This might be difficult to obtain in particular when tax assessor data and data from commercial sources are unavail-able. The article shows an alternative way of data acquisition and applies hedonic modelling tech-niques in order to generate the required data. Many studies have highlighted that ordinary least square (OLS) regression approaches lack the ability to consider spatial dependency and spatial heterogeneity, consequently leading to biased and inefficient estimations. Therefore, a comprehensive data set is used for modelling residential asking rents by applying and comparing OLS, spatial autoregressive and geo-graphically weighted regression (GWR) techniques. The latter one performed best with regard to model fit, but the issue of correlated coefficients let us favour a spatial autoregressive model. Overall, the article reveals that when housing markets are a particular concern in UrbanSim applications, sig-nificant efforts are needed for the price data generation and modelling. The study concludes with fur-ther development potentials of UrbanSim. Show more
Permanent link
https://doi.org/10.3929/ethz-a-005899580Publication status
publishedJournal / series
Arbeitsberichte Verkehrs- und RaumplanungVolume
Publisher
ETH, Eidgenössische Technische Hochschule Zürich, IVT, Institut für Verkehrsplanung und TransportsystemeSubject
BODENNUTZUNG; LAND USE; Hedonic technique; SPATIAL MOBILITY (GEOGRAPHY); LAND VALUE EVALUATION + REAL ESTATE EVALUATION; Switzerland; RÄUMLICHE MOBILITÄT (GEOGRAFIE); VERKEHRSMODELLE + VERKEHRSSIMULATION (VERKEHR UND TRANSPORT); UrbanSim; SWITZERLAND (CENTRAL EUROPE). SWISS CONFEDERATION; SCHWEIZ (MITTELEUROPA). SCHWEIZERISCHE EIDGENOSSENSCHAFT; PRICE THEORIES; BODENWERTERMITTLUNG + LIEGENSCHAFTENBEWERTUNG; Spatial effects; TRANSPORT MODELS + TRAFFIC SIMULATION (TRANSPORTATION AND TRAFFIC); Asking rents; PREISTHEORIENOrganisational unit
02610 - Inst. f. Verkehrspl. u. Transportsyst. / Inst. Transport Planning and Systems03521 - Axhausen, Kay W. (emeritus) / Axhausen, Kay W. (emeritus)
02226 - NSL - Netzwerk Stadt und Landschaft / NSL - Network City and Landscape
02655 - Netzwerk Stadt u. Landschaft ARCH u BAUG / Network City and Landscape ARCH and BAUG
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Is previous version of: https://doi.org/10.3929/ethz-b-000259946
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