This paper examines whether the housing wealth effect – the consumption change induced by house price appreciation – is dependent upon households' attitudes toward risk. A simple theoretical model is introduced to highlight a negative relationship between the wealth effect and risk aversion....

Despite its long history, hedonic pricing for housing valuation remains an active research area, and applications of new estimation methods continually push research frontiers. However, housing studies regarding Chinese cities are limited due to the short history of China's free housing market....

Global warming changes societal values and political climate. The movement toward environmental sustainability and initiatives of green-building certification have created an implicit mark for sustainable buildings. Whether the economic return adequately incentivizes developers is an important...

A good transport network connects places better, but research traditionally contextualizes transportation as a line. Assessing transport connectivity's impact, we construct network indices derivable from Donaldson and Hornbeck's (2016) micro-foundations but propose better identification using a...