Analysis of Real Estate Evaluation from the View Point of Intertemporall and Spatial Economics

八田：他估计了由于放宽FAR而导致的交通增加导致的东京主要街道拥堵率的增加。利用这个估计，他估计了放宽FAR的成本和收益。Kaizoji：他研究土地泡沫破裂的机制。综上所述，(1)泡沫是投资资本集中于有限区域（如丸内地区），地价分布的偏度随着时间的推移而扩大的现象；(2)由于有限区域的地价急剧飙升，大部分可用资本都投入到有限区域的交易中，最终无法以土地的极端价值进行交易。泡沫破裂是不可避免的结果，通过观察土地价格基尼系数的时间变化可以预测泡沫的破裂。Takezawa: 2005 - 2006年间，体育设施房地产开发与J-REIT市场的初步实证研究已经完成。发表于《运营属性…更多和基金绩效：来自J-REIT市场的初步证据》（与N. Takezawa和H. Saji合作），发表于《社会科学杂志》（ICU）。在澳大利亚和新西兰体育管理协会就体育场冠名权进行了介绍。体育设施（体育场馆、高尔夫球场）房地产开发基础数据库及REITs编制。关于日本房地产投资信托基金市场受益人权利的初步调查结果（与N. Takezawa， K. Takashima合作）在2007年日本金融协会会议上发表。Karato: 1991 - 2001年土地利用变化数据采用GIS多边形进行开发。利用这些数据，我们通过统计估计办公室/住房租金函数来衡量东京中心地区土地使用的成本低效率。观察了土地利用变化的模式，并检验了惠顿的土地再开发定理。开发了公寓价格的重复销售数据。我们估计了房地产市场的质量调整价格指数。提出了住房年龄效应系数偏差的计量经济学方法，并指出这是典型的Case & Shiller型价格指数的计量经济学问题。他整理了享乐主义方法中的理论和应用，分析了房地产价格的微观结构。在此基础上，通过空间计量经济学分析，提出了土地价格函数空间相互依存关系的计量检验方法。少

Hatta: He estimated the increase in the congestion rates of major streets of Tokyo caused by the traffic increase generated by easing FAR Taking advantage of this estimate, he estimated the cost and benefit of easing FAR.Kaizoji: He studies on a mechanism of bursting land bubble. In summary, (i) Bubble is a phenomenon that investment capital concentrates on limited areas (for example, Marunouchi-area), and the skewness of the distribution of land price enlarges over time, (ii) as the land prices in limited areas soar extremely, most of available capital is invested in trade of the limited areas, and finally it is impossible to trade at the extreme value of the land. As an unavoidable result, bubble bursts, and (iii) burst of bubble is predictable by observing the time changes of the Gini coefficient of land prices.Takezawa: Between 2005 and 2006, preliminary empirical research on sports facility real estate development and the J-REIT market completed. Published "Operational Attributes … More and Fund Performance: Preliminary Evidence from the J-REIT Market" (with N. Takezawa and H. Saji) in the Journal of Social Science (ICU). Presented work on Stadium naming rights at the Sports Management Association of Australia and New Zealand.Basic Data base for real estate development in sports facilities (stadiums, golf courses) and REITs compiled. Preliminary findings on the Beneficiary Rights in the Japanese REIT Market (with N. Takezawa, K. Takashima) were presented at the 2007 Nippon Finance Association Conference.Karato: The data of land use variation was developed by GIS polygon for the period from 1991 to 2001. Using this data, we measured cost inefficiency of land use in the central area of Tokyo by means of statistically estimating the office/housing rent function. Patterns of land usage changing was observed, and examining the theorem of land re-development by Wheaton.Repeat sales data of condominiums price was developed. We estimated the quality adjusted price-index in real estate market. We proposed the econometric method for the bias of the housing age-effect coefficients which was pointed out as econometric problem of typical Case & Shiller type price-index.He arranged the theory and application in hedonic approach to analyze the micro structure of real estate price. Moreover we proposed the econometrically testing method to investigate spatial interdependence of land price function by spatial econometric analysis. Less