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Article: Estimating the commuting cost and commuting time property price gradients

TitleEstimating the commuting cost and commuting time property price gradients
Authors
KeywordsCommuting cost
Commuting time
Property price gradient
Issue Date2003
PublisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/regec
Citation
Regional Science And Urban Economics, 2003, v. 33 n. 6, p. 745-767 How to Cite?
AbstractIn this paper, we estimate the property price gradients in Hong Kong. We distinguish our effort from previous studies on the subject by directly measuring the economic distance, i.e., the monetary commuting cost and commuting time, instead of merely the physical distance. Our results are generally supportive of the prediction of a negative property price gradient. In one specification, the estimated capitalization of the savings of commuting cost in property prices appears to be just right. The expected negative effect of commuting time on property values, however, can only be detected among observations with larger commuting times. Nevertheless, over the range where the effect of commuting time has the expected negative sign, the values of time implied by the estimates agree well with the results reported in the transportation economics literature. © 2003 Elsevier B.V. All rights reserved.
Persistent Identifierhttp://hdl.handle.net/10722/85599
ISSN
2015 Impact Factor: 1.024
2015 SCImago Journal Rankings: 1.328
ISI Accession Number ID
References

 

DC FieldValueLanguage
dc.contributor.authorTse, CYen_HK
dc.contributor.authorChan, AWHen_HK
dc.date.accessioned2010-09-06T09:07:01Z-
dc.date.available2010-09-06T09:07:01Z-
dc.date.issued2003en_HK
dc.identifier.citationRegional Science And Urban Economics, 2003, v. 33 n. 6, p. 745-767en_HK
dc.identifier.issn0166-0462en_HK
dc.identifier.urihttp://hdl.handle.net/10722/85599-
dc.description.abstractIn this paper, we estimate the property price gradients in Hong Kong. We distinguish our effort from previous studies on the subject by directly measuring the economic distance, i.e., the monetary commuting cost and commuting time, instead of merely the physical distance. Our results are generally supportive of the prediction of a negative property price gradient. In one specification, the estimated capitalization of the savings of commuting cost in property prices appears to be just right. The expected negative effect of commuting time on property values, however, can only be detected among observations with larger commuting times. Nevertheless, over the range where the effect of commuting time has the expected negative sign, the values of time implied by the estimates agree well with the results reported in the transportation economics literature. © 2003 Elsevier B.V. All rights reserved.en_HK
dc.languageengen_HK
dc.publisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/regecen_HK
dc.relation.ispartofRegional Science and Urban Economicsen_HK
dc.rightsRegional Science and Urban Economics. Copyright © Elsevier BV.en_HK
dc.rightsCreative Commons: Attribution 3.0 Hong Kong License-
dc.rightsNOTICE: this is the author’s version of a work that was accepted for publication in <Regional Science And Urban Economics>. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in PUBLICATION, [VOL 33, ISSUE 6, (2003)] 10.1016/S0166-0462(03)00011-5-
dc.subjectCommuting costen_HK
dc.subjectCommuting timeen_HK
dc.subjectProperty price gradienten_HK
dc.titleEstimating the commuting cost and commuting time property price gradientsen_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=0166-0462&volume=33&spage=745&epage=767&date=2003&atitle=Estimating+the+commuting+cost+and+commuting+time+property+prices+gradientsen_HK
dc.identifier.emailTse, CY: cytse@hkucc.hku.hken_HK
dc.identifier.emailChan, AWH: awhchan@hku.hken_HK
dc.identifier.authorityTse, CY=rp01099en_HK
dc.identifier.authorityChan, AWH=rp01043en_HK
dc.description.naturepreprint-
dc.identifier.doi10.1016/S0166-0462(03)00011-5en_HK
dc.identifier.scopuseid_2-s2.0-0141890826en_HK
dc.identifier.hkuros91881en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-0141890826&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume33en_HK
dc.identifier.issue6en_HK
dc.identifier.spage745en_HK
dc.identifier.epage767en_HK
dc.identifier.isiWOS:000185691700005-
dc.publisher.placeNetherlandsen_HK
dc.identifier.scopusauthoridTse, CY=7103295092en_HK
dc.identifier.scopusauthoridChan, AWH=37019602700en_HK

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