The Economics of Urban Amenities

1st Edition - January 28, 1982
Editors: Douglas B. Diamond, George S. Tolley
Language: English
eBook ISBN:
9 7 8 - 1 - 4 8 3 2 - 6 4 7 5 - 2

The Economics of Urban Amenities discusses amenities through a conceptual, methodological, and empirical basis. The text also defines amenities in a wide variety of human… Read more

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The Economics of Urban Amenities discusses amenities through a conceptual, methodological, and empirical basis. The text also defines amenities in a wide variety of human well-being. This collection of papers starts with a review of the concept of amenity. This book contains papers that discuss the economic roles of urban amenities and the resident’s site choice. This text also discusses the methods of amenity market analysis including assumptions of hedonic prices and residential location, the exogeneity issues, applications of the limited Box-Cox search, and the Hausman test. Several papers describe urban amenity markets considering options such as building heights, viewing, expressway noise, recreational centers, and neighborhood composition. This book also analyzes the market for regional amenities and covers subjects such as urban structure, wage rates, and migration. One paper shows that theoretically, differences in income and employment affect the control of amenities as these amenities in turn reflect “real utility differentials.” This book is suitable for urban and city planners, sociologists, economies, researchers and academicians involved in demographics, and environmentalists.

Contributors

Preface

I The Amenity Concept

1. The Economic Roles of Urban Amenities

I. Introduction

II. The Amenity Concept

III. Markets in Amenities

IV. Estimating Household Demands for Amenities

V. Amenities and Residential Location Patterns

VI. Amenities and Urban Form

VII. Amenities, Filtering, and Renewal

VIII. Amenities and Regional Location

IX. Conclusion

References

2. The Residence Site Choice

I. Framework

II. Measurement of Amenity and Travel Savings Components of Land Value

III. Supply Attributes Affecting Amenity Values

IV. Demand

V. Conclusion

References

II Methods of Amenity Market Analysis

3. Hedonic Prices and Residential Location

I. Introduction

II. The Bid-Rent Model of Residential Choice

III. Housing Market Hedonic Function Specification Errors

IV. Specification of the Locational Demand Function

V. The Use of Implicit Market Housing Market Models

VI. Conclusion

References

4. Specifying the Demand for Housing Characteristics: The Exogeneity Issue

I. Hedonic Prices and Demand for Housing Characteristics

II. The Hedonic Housing Equation

III. Demands for Housing Characteristics

IV. The Relative Exogeneity of Prices and Quantities

V. Conclusions

References

III Urban Amenity Markets

5. View Amenities, Building Heights, and Housing Supply

I. Introduction

II. The Basic Model

III. Empirical Results

IV. The Importance of Topographic Amenities

Appendix A: Variable Definitions and Sampling Statistics

Appendix B

Appendix C

References

6. The Costs of Urban Expressway Noise

I. The Measurement of Noise

II. Measuring the Impact of a Disamenity

III. The Damages from Expressway Noise

IV. Conclusion and Implications

References

7. The Influence of Urban Centers on Recreational Land Use

I. Introduction

II. A Model of the Demand for Recreational Land

III. Land Use around Multiple Urban Centers

IV. Empirical Evaluation

V. Conclusions

References

8. Racial Composition as a Neighborhood Amenity

I. Introduction

II. Racial Prejudice in Housing Markets

III. Evidence from the Houston Housing Market

IV. Conclusion

References

IV Regional Amenity Markets

9. Urban Structure, Wage Rates, and Regional Amenities

I. Introduction

II. A Model of an Urban Area with Pollution

III. Small External Changes in the Level of Pollution

IV. A Solution if the Amenity Level is Endogenous

V. Summary

Appendix

References

10. Amenities and Migration over the Life-Cycle

I. Introduction

II. Data

III. Regression Results

IV. Summary

References

Subject Index