This paper presents evidence that high speed rail systems, by bringing economic agents closer together, sustainably promote economic activity within regions that enjoy an increase in accessibility. Our results on the one hand confirm expectations that have led to huge public investments into...

We propose a method to estimate the capitalized value of the architectural design quality of a neighbourhood. Our economic design premium is identified by spatially differentiating property prices and design quality within neighbourhoods and comparing the differences across neighbourhoods. We...

We reconcile conflicting evidence on the magnitude of the elasticity of substitution of land for capital, which is a key determinant of the relationship between the price of land and the density of land use. We first compare the performance of classic estimation approaches with a new estimation...

Assuming that owners are fully compensated for the costs and benefits through the prices they pay for properties, we investigate the effects conservation areas have on value in England in a spatial hedonic analysis of property prices. Controlling for a particularly rich set of property and...

Can the demise of the monocentric economy across cities during the 20th century be explained by decreasing transport costs to the city center or are other fundamental forces at work? Taking a hybrid perspective of classical bid-rent theory and a world where clustering of economic activity is...

Infrastructure and especially mass transit play a major role in urban economics and are the centre of many research questions. Probably due to simultaneous determination of infrastructure supply and demand most research is only carried out on the supply side driven relationship explaining how...

Provided that there are positive external benefits attached to the historic character of buildings, owners of properties in designated conservation areas benefit from a reduction in uncertainty regarding the future of their area. At the same time, the restrictions put in place to ensure the...