Representing accessibility in property valuations and willingness-to-pay
Name
1-s2.0-S2352146519305277-main.pdf
Description
Published version
Size
387.74 KB
Format
Adobe PDF
Checksum (MD5)
da082670a2c88228612e4ecd8e5186de
Author(s)
He, He
Ponce Lopez, Roberto
Ferreira, Joseph
Zegras, Pericles Christopher
Date Issued
September 2019
Journal
Transportation Research Procedia
Publisher
Elsevier BV
Citation
He, He et al. “Representing accessibility in property valuations and willingness-to-pay.” Transportation Research Procedia, 41 (September 2019): 617–620 © 2019 The Author(s)
Version
Final published version
Abstract
The objective of the study is to determine how well different measures of accessibility represent household and market preferences in property valuations. Specifically, the authors explore the appropriateness, advantages, and limitations of personalized accessibility measures [consumer surplus, activity-based accessibility (ABA)] compared to aggregate accessibility measures (gravity-based accessibility). Similarly, the authors compare accessibility measures that account for individuals’ daily activity schedules (ABA) to those that do not (consumer surplus, gravity-based accessibility). Furthermore, the authors consider different approaches to aggregating personalized measures when necessary. Namely, a household’s willingness-to-pay should reflect a summary of the accessibility of its members, and the market price for a property should reflect a summary of the market’s accessibility preferences. The authors conduct their study in the context of Singapore.
MIT Department
Massachusetts Institute of Technology. Department of Urban Studies and Planning
Terms of Use
Creative Commons Attribution-NonCommercial-NoDerivs License
Persistent DSpace Link
DOI of Published Version
https://doi.org/10.1016/J.TRPRO.2019.09.110
