An evaluation of the accessibility benefits of commuter rail in Eastern Massachusetts using spatial hedonic price functions
An evaluation of the accessibility benefits of commuter rail in Eastern Massachusetts using spatial hedonic price functions
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DOI：
10.1007/s11116-005-0949-x
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发表时间：
2006-01-01
期刊：
影响因子：
4.3
通讯作者：
Rodríguez, DA
中科院分区：
文献类型：
--
作者：
Armstrong, RJ;Rodríguez, DA
我们估计空间享乐价格函数，以检验马萨诸塞州东部通勤铁路服务的当地和地区通达性好处，同时控制与邻近相关的负外部性和其他混杂影响。数据包括来自四个有通勤铁路服务的城市和三个没有通勤铁路服务的城市的1860套独栋住宅。我们发现了一些证据，证明通勤铁路车站的可达性是大写的。两个模型规格表明，位于有通勤铁路站的城市的房产展示的价值比没有通勤火车站的城市的房产高9.6%到10.1%。在第三个模型中，我们发现了自动到达车站的时间或步行时间大写的微弱证据，这表明位于车站半英里缓冲区内的房产的价值比位于该缓冲区之外的房产高10.1%，从车站多开车一分钟与房产价值的下降1.6%有关。我们的结果还表明，通勤铁路通行权的接近对物业价值有显著的负面影响，这表明每1000英尺。在距离通勤铁路路权较远的地方，在其他条件相同的情况下，房地产价值要高出732美元到2897美元。在平均样本值下，这一结果转化为0.03到0.13之间的弹性，这取决于特征价格方程的函数形式。
We estimate spatial hedonic price functions to examine local and regional accessibility benefits of commuter rail service in Eastern Massachusetts, while controlling for proximity-related negative externalities and other confounding influences. The data include 1,860 single-family residential properties from four municipalities with commuter rail service, and three municipalities without commuter rail service. We find some evidence of the capitalization of accessibility to commuter rail stations. Two model specifications suggest that properties located in municipalities with commuter rail stations exhibit values that are between 9.6% and 10.1% higher than properties in municipalities without a commuter rail station. With a third model we detect weak evidence of the capitalization of auto access time or walking time to the stations, suggesting that properties located within a one-half mile buffer of a station have values that are 10.1% higher than properties located outside of this buffer area and that an additional minute of drive time from the station is related to a decrease of 1.6% in property values. Our results also indicate that proximity to commuter rail right-of-way has a significant negative effect on property values, which suggests that for every 1,000 ft. in distance from the commuter rail right-of-way, property values are between $732 and $2,897 higher, all else held equal. At the mean sample values, this result translates into an elasticity of between 0.03 and 0.13, depending on the functional form of the hedonic price equation.