Waights, Sevrin - In: Urban Studies 55 (2018) 15, pp. 3299-3317
Hedonic prices of locational attributes in urban land markets are determined by a process of spatial arbitrage that is … similar to that which underpins the law of one price. If hedonic prices deviate from their spatial equilibrium values then … individuals can benefit from changing locations. I examine whether the law holds for the hedonic price of rail access using a …