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Hedonic pricing with redevelopment options: A new approach to estimating depreciation effects

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  1. d’Amato, Maurizio & Zrobek, Sabina & Renigier Bilozor, Malgorzata & Walacik, Marek & Mercadante, Giuseppe, 2019. "Valuing the effect of the change of zoning on underdeveloped land using fuzzy real option approach," Land Use Policy, Elsevier, vol. 86(C), pages 365-374.
  2. Greenaway-McGrevy, Ryan & Sorensen, Kade, 2021. "A Time-Varying Hedonic Approach to quantifying the effects of loss aversion on house prices," Economic Modelling, Elsevier, vol. 99(C).
  3. Shijun Jia & Yourong Wang & Gang-Zhi Fan, 2018. "Home-Purchase Limits and Housing Prices: Evidence from China," The Journal of Real Estate Finance and Economics, Springer, vol. 56(3), pages 386-409, April.
  4. Coulson, N. Edward & Li, Herman, 2013. "Measuring the external benefits of homeownership," Journal of Urban Economics, Elsevier, vol. 77(C), pages 57-67.
  5. Renigier-Biłozor Małgorzata & d’Amato Maurizio, 2017. "The Valuation of Hope Value for Real Estate Development," Real Estate Management and Valuation, Sciendo, vol. 25(2), pages 91-101, June.
  6. Rosenthal, Stuart S. & Ross, Stephen L., 2015. "Change and Persistence in the Economic Status of Neighborhoods and Cities," Handbook of Regional and Urban Economics, in: Gilles Duranton & J. V. Henderson & William C. Strange (ed.), Handbook of Regional and Urban Economics, edition 1, volume 5, chapter 0, pages 1047-1120, Elsevier.
  7. Dastrup, Samuel R. & Graff Zivin, Joshua & Costa, Dora L. & Kahn, Matthew E., 2012. "Understanding the Solar Home price premium: Electricity generation and “Green” social status," European Economic Review, Elsevier, vol. 56(5), pages 961-973.
  8. Lee, Hung-Wei & Lin, Che-Chun & Tsai, I-Chun, 2023. "Another application of call options: Explaining the divergence between the housing market and the rental market," Finance Research Letters, Elsevier, vol. 53(C).
  9. Elizabeth Plummer, 2014. "The Effects of Property Tax Protests on the Assessment Uniformity of Residential Properties," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 42(4), pages 900-937, December.
  10. Ryan Greenaway-McGrevy & Gail Pacheco & Kade Sorensen, 2018. "Land Use Regulation, the Redevelopment Premium and House Prices," Working Papers 2018-02 JEL Classificatio, Auckland University of Technology, Department of Economics.
  11. John Clapp & Katsiaryna Bardos & Tingyu Zhou, 2014. "Expansions and Contractions of Major US Shopping Centers," The Journal of Real Estate Finance and Economics, Springer, vol. 48(1), pages 16-56, January.
  12. Daniel Broxterman & Tingyu Zhou, 2023. "Information Frictions in Real Estate Markets: Recent Evidence and Issues," The Journal of Real Estate Finance and Economics, Springer, vol. 66(2), pages 203-298, February.
  13. Anthony Yezer & Yishen Liu, 2017. "Can Differences Deceive? The Case of “Foreclosure Externalities"," Working Papers 2017-29, The George Washington University, Institute for International Economic Policy.
  14. Yishen Liu & Anthony M. Yezer, 2021. "Foreclosure Externalities: Have We Confused the Cure with the Disease?," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 49(S2), pages 428-460, September.
  15. Ünsal Özdilek, 2020. "Land and building separation based on Shapley values," Palgrave Communications, Palgrave Macmillan, vol. 6(1), pages 1-13, December.
  16. Tsai, I-Chun & Wang, Wen-Kai, 2022. "The value of land redevelopment in different types of properties: Considering the effect of hold-out problems on the development probability," Land Use Policy, Elsevier, vol. 119(C).
  17. John M. Clapp & Jeffrey P. Cohen & Cletus C. Coughlin, 2014. "Semi-Parametric Interpolations of Residential Location Values: Using Housing Price Data to Generate Balanced Panels," Working Papers 2014-50, Federal Reserve Bank of St. Louis.
  18. Yang Tang & Kairong Hong & Yucheng Zou & Yanwei Zhang, 2021. "Impact of Emotional Perceived Value on the Uncertain Evolution of the Housing Bubble," Mathematics, MDPI, vol. 9(13), pages 1-23, July.
  19. Shi, Song & Yang, Zan & Tripe, David & Zhang, Huan, 2015. "Uncertainty and new apartment price setting: A real options approach," Pacific-Basin Finance Journal, Elsevier, vol. 35(PB), pages 574-591.
  20. Liao, Wen-Chi & Wang, Xizhu, 2012. "Hedonic house prices and spatial quantile regression," Journal of Housing Economics, Elsevier, vol. 21(1), pages 16-27.
  21. Tingyu Zhou & John M Clapp & Ran Lu‐Andrews, 2022. "Examining omitted variable bias in anchoring premium estimates: Evidence based on assessed value," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 50(3), pages 789-828, September.
  22. Robert A. Simons & Ron Throupe, 2012. "Debundling Property Rights for Contaminated Properties: Valuing the Opportunity Cost of the Right to Sell, Using Cumulative Options," International Real Estate Review, Global Social Science Institute, vol. 15(2), pages 231-252.
  23. Anthony Yezer, 2016. "Testing the Association between Foreclosure and Nearby House Values: Can Differences Deceive?," Working Papers 2016-29, The George Washington University, Institute for International Economic Policy.
  24. John M. Clapp & Jeffrey P. Cohen & Cletus C. Coughlin, 2015. "Local Polynomial Regressions versus OLS for Generating Location Value Estimates: Which is More Efficient in Out-of-Sample Forecasts?," Working Papers 2015-14, Federal Reserve Bank of St. Louis.
  25. Paul E. Carrillo & Anthony Yezer, 2021. "What Do Hedonic House Price Estimates Tell Us When Capitalization Rates Vary?," Working Papers 2021-03, The George Washington University, Institute for International Economic Policy.
  26. John Clapp & Piet Eichholtz & Thies Lindenthal, 2012. "Real Option Value over a Housing Market Cycle: West Berlin," ERSA conference papers ersa12p264, European Regional Science Association.
  27. Been, Vicki & Ellen, Ingrid Gould & Gedal, Michael & Glaeser, Edward & McCabe, Brian J., 2016. "Preserving history or restricting development? The heterogeneous effects of historic districts on local housing markets in New York City," Journal of Urban Economics, Elsevier, vol. 92(C), pages 16-30.
  28. John M. Clapp & Ran Lu‐Andrews & Tingyu Zhou, 2020. "Anchoring to Purchase Price and Fundamentals: Application of Salience Theory to Housing Cycle Diagnosis," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 48(4), pages 1274-1317, December.
  29. Jeffrey P. Cohen & Cletus C. Coughlin & John M. Clapp, 2017. "Local Polynomial Regressions versus OLS for Generating Location Value Estimates," The Journal of Real Estate Finance and Economics, Springer, vol. 54(3), pages 365-385, April.
  30. Davis, Morris A. & Oliner, Stephen D. & Pinto, Edward J. & Bokka, Sankar, 2017. "Residential land values in the Washington, DC metro area: New insights from big data," Regional Science and Urban Economics, Elsevier, vol. 66(C), pages 224-246.
  31. Lindenthal, Thies & Eichholtz, Piet & Geltner, David, 2017. "Land assembly in Amsterdam, 1832–2015," Regional Science and Urban Economics, Elsevier, vol. 64(C), pages 57-67.
  32. Clapp, John M. & Bardos, Katsiaryna Salavei & Wong, S.K., 2012. "Empirical estimation of the option premium for residential redevelopment," Regional Science and Urban Economics, Elsevier, vol. 42(1-2), pages 240-256.
  33. K. Chau & S. Wong, 2014. "Externalities of Urban Renewal: A Real Option Perspective," The Journal of Real Estate Finance and Economics, Springer, vol. 48(3), pages 546-560, April.
  34. Tirthatanmoy Das & Kabir Dasgupta, 2018. "Evaluating the Impact of Mothers' Self-esteem on Early Childhood Home Environment: Evidence from NLSY," Working Papers 2018-03 JEL Classificatio, Auckland University of Technology, Department of Economics, revised Oct 2019.
  35. Gedal, Michael & Ellen, Ingrid Gould, 2018. "Valuing urban land: Comparing the use of teardown and vacant land sales," Regional Science and Urban Economics, Elsevier, vol. 70(C), pages 190-203.
  36. Ross, Stephen L. & Zhou, Tingyu, 2024. "Loss aversion and focal point bias: Empirical evidence from housing markets," Journal of Behavioral and Experimental Finance, Elsevier, vol. 42(C).
  37. Stephen L. Ross & Tingyu Zhou, 2020. "Documenting Loss Aversion Using Evidence of Round Number Bias," Working Papers 2020-079, Human Capital and Economic Opportunity Working Group.
  38. Clapp, John M. & Lindenthal, Thies, 2022. "Urban land valuation with bundled good and land residual assumptions," Journal of Housing Economics, Elsevier, vol. 58(PA).
  39. Stephen B. Billings, 2015. "Hedonic Amenity Valuation and Housing Renovations," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 43(3), pages 652-682, September.
  40. Anglin, Paul M. & Dale-Johnson, David & Gao, Yanmin & Zhu, Guozhong, 2014. "Patterns of growth in Chinese cities: Implications of the land lease," Journal of Urban Economics, Elsevier, vol. 83(C), pages 87-107.
  41. McMillen, Daniel & O’Sullivan, Arthur, 2013. "Option value and the price of teardown properties," Journal of Urban Economics, Elsevier, vol. 74(C), pages 71-82.
  42. Simon B chler, Alex van de Minne, Olivier Sch ni, 2020. "Redevelopment Option Value for Commercial Real Estate," Diskussionsschriften credresearchpaper26, Universitaet Bern, Departement Volkswirtschaft - CRED.
  43. Ryan Greenaway-McGrevy & Gail Pacheco & Kade Sorensen, 2021. "The effect of upzoning on house prices and redevelopment premiums in Auckland, New Zealand," Urban Studies, Urban Studies Journal Limited, vol. 58(5), pages 959-976, April.
  44. Sören Gröbel, 2018. "Regional heterogeneity in age-related housing depreciation rates [Regionale Heterogenität altersbedingter Wertminderungen von Wohnimmobilien]," Review of Regional Research: Jahrbuch für Regionalwissenschaft, Springer;Gesellschaft für Regionalforschung (GfR), vol. 38(2), pages 219-254, October.
  45. Jakob A. Dambon & Stefan S. Fahrländer & Saira Karlen & Manuel Lehner & Jaron Schlesinger & Fabio Sigrist & Anna Zimmermann, 2022. "Examining the vintage effect in hedonic pricing using spatially varying coefficients models: a case study of single-family houses in the Canton of Zurich," Swiss Journal of Economics and Statistics, Springer;Swiss Society of Economics and Statistics, vol. 158(1), pages 1-14, December.
  46. Shengfu Yang & Shougeng Hu & Weidong Li & Chuanrong Zhang & José A. Torres, 2017. "Spatiotemporal Effects of Main Impact Factors on Residential Land Price in Major Cities of China," Sustainability, MDPI, vol. 9(11), pages 1-16, November.
  47. Chia, Liu Ee & Sing, Tien Foo, 2023. "Redevelopment values in multi-family properties: Evidence from en bloc sales in Singapore," Journal of Housing Economics, Elsevier, vol. 60(C).
  48. John M. Clapp & Jeffrey P. Cohen & Thies Lindenthal, 2023. "Are Estimates of Rapid Growth in Urban Land Values an Artifact of the Land Residual Model?," The Journal of Real Estate Finance and Economics, Springer, vol. 66(2), pages 373-421, February.
  49. Yiying Cheng & Steven P. Clark & Kiplan S. Womack, 2021. "A Real Options Model of Real Estate Development with Entitlement Risk," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 49(1), pages 106-151, March.
  50. Gang‐Zhi Fan & Ming Pu & Tien Foo Sing & Xiaoyu Zhang, 2022. "Risk aversion and urban land development options," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 50(3), pages 767-788, September.
  51. Munneke, Henry J. & Womack, Kiplan S., 2015. "Neighborhood renewal: The decision to renovate or tear down," Regional Science and Urban Economics, Elsevier, vol. 54(C), pages 99-115.
  52. Mario A. Fernandez & Shane L. Martin, 2020. "What’s so special about character?," Urban Studies, Urban Studies Journal Limited, vol. 57(16), pages 3236-3251, December.
  53. Song Zhang & Mark van Duijn & Arno J. van der Vlist, 2020. "The external effects of inner‐city shopping centers: Evidence from the Netherlands," Journal of Regional Science, Wiley Blackwell, vol. 60(4), pages 583-611, September.
  54. Seth B. Payton & John R. Ottensmann, 2015. "The implicit price of urban public parks and greenways: a spatial-contextual approach," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 58(3), pages 495-512, March.
  55. Clapp, John M. & Eichholtz, Piet & Lindenthal, Thies, 2013. "Real option value over a housing market cycle," Regional Science and Urban Economics, Elsevier, vol. 43(6), pages 862-874.
  56. McMillen, Daniel & Singh, Ruchi, 2022. "Land value estimation using teardowns," Journal of Housing Economics, Elsevier, vol. 58(PA).
  57. Roland Füss & Jan A. Koller & Alois Weigand, 2021. "Determining Land Values from Residential Rents," Land, MDPI, vol. 10(4), pages 1-29, March.
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