Do Survey Results Systematically Differ from Hedonic Regression Results? Evidence from a Residential Property Meta-Analysis

In this paper, we evaluate the effect of environmental contamination situations on residential property values. Using the meta-analysis technique, conclusions are drawn about the effect of location, type of study conducted, empirical technique used, and economic conditions on various outcomes. Using...

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Bibliographic Details
Published inJournal of real estate literature Vol. 21; no. 2; pp. 233 - 254
Main Authors Lipscomb, Clifford A., Mooney, Abigail, Kilpatrick, John A.
Format Journal Article
LanguageEnglish
Published Clemson American Real Estate Society 2013
Taylor & Francis Ltd
Subjects
Air pollution
Calibration
Case studies
Design
Dwelling value
Economic conditions
Economic value
Estimates
Evaluation
Laboratories
Land economics
Landfill
Landfills
Meta analysis
Methodology
Modeling
Outdoor air quality
Property
Property value
Property values
Regression analysis
Research methods
Residential real estate
Review Articles
Studies
Valuation
Willingness to pay
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Summary:In this paper, we evaluate the effect of environmental contamination situations on residential property values. Using the meta-analysis technique, conclusions are drawn about the effect of location, type of study conducted, empirical technique used, and economic conditions on various outcomes. Using observations extracted from 40 peer-reviewed articles, meta-regression analysis is used to identify the factors that explain variation in marginal willingness to pay for environmental amenities and disamenities as a percentage of the average unimpaired value of local residential properties. Our findings suggest that relatively similar property value diminution conclusions are obtained regardless of the methodological approach employed. Additionally, we find no evidence of “publication bias” in our results.
Bibliography:ObjectType-Article-2
SourceType-Scholarly Journals-1
ObjectType-Feature-1
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ISSN:0927-7544
1573-8809
DOI:10.1080/10835547.2013.12090361