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Housing Choice, Residential Mobility, and Hedonic Approaches

  • David M. Brasington
Reference work entry

Abstract

This chapter explores the literature on residential mobility and house price hedonics. Residential mobility studies the decision of economic agents to move or not and, if they move, their choice of new residence. Topics covered in this chapter include the theory behind the move-or-stay decision, modeling intra- and interregional moves, empirically validated determinants of moving, and macro- and microlevel studies on mobility. Next, house price hedonics explain the price of a house as the sum of all the things that give a house value, from structural characteristics like the number of full bathrooms to public services and neighborhood characteristics that the house experiences. The chapter discusses the theory behind hedonics, applications of the technique, and empirical approaches to identify hedonic house price studies and second-stage hedonic regressions of the demand and supply of characteristics that give a house its value.

Keywords

House Price Residential Mobility Housing Consumption Spatial Durbin Model Hedonic Regression 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer-Verlag Berlin Heidelberg 2014

Authors and Affiliations

  1. 1.Department of EconomicsUniversity of CincinnatiCincinnatiUSA

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