In this paper we estimate hedonic prices for co-operative flats in the city of Umea, Sweden, during 1998 and 1999. Structural and neighbourhood characteristics together with accessibility measures are used as attributes in the hedonic price function. Since there are indications of spatial dependence Ordinary Least Squares estimation is inappropriate. Instead Spatial Autoregressive GMM estimation is used. Two attractive nodes, although with different functions, are found in the city. Thus there are signs supporting the view that Umea has developed into a multi-nodal structure for property values.
Amenities influence individual location decisions and affect overall social well being. This comparative study focuses on the potential complementarity of implicit and contingent market approaches to valuing amenities. Lakeshore residents in Chicago were surveyed to collect data to estimate implied housing hedonic values and contingent values for two view-related amenities. The consumers in the housing market and the bidders in the contingent market are the exact same people. Presumably differences in estimates are primarily due to the different approaches. For willingness to pay, contingent values are found to be within a factor of two of implicit values. The difference is consistent with sorting which occurs in the housing market. The results provide further evidence of progress in valuing amenities.
Berzelius failed to make use of Faraday's electrochemical laws in his laborious determination of equivalent weights.