The Effect of a Sports Stadium on Housing Rents: An Application of Geographically Weighted Regression
DOI:
https://doi.org/10.17230/ecos.2015.40.4Keywords:
Housing Rents, Geographically Weighted Regression, ColombiaAbstract
Researchers have determined that real estate prices vary in continuous ways as a function of spatial characteristics. In this study we examine whether geographically weighted regression (GWR) provides different estimates of price effects around a sports stadium than more traditional regression techniques. We find that an application of GWR with hedonic prices finds that the stadium has a negative external effect on housing rents that extends outward 560 meters, in contrast to the positive external effect on housing rents found using a conventional estimation technique.Downloads
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