Clapp, John M.; Kim, Hyon-Jung; Gelfand, Alan E. - In: Real Estate Economics 30 (2002) 4, pp. 505-532
This article is motivated by the limited ability of standard hedonic price equations to deal with spatial variation in house prices. Spatial patterns of house prices can be viewed as the sum of many causal factors: Access to the central business district is associated with a house price...