Spatial Heterogeneity in Hedonic Price Effects for Lake Water Quality
利用Zillow房产交易数据，研究美国各地湖水清澈度对独栋住宅价格的影响，发现空间异质性显著且受研究者决策影响，提醒学者注意市场边界和结果稳健性。
This study uses Zillow's ZTRAX property transaction database to investigate variation in hedonic price effects of water clarity on single-family houses throughout the United States. We consider five spatial scales and estimate models using different sample selection criteria and model specifications. Our results indicate considerable spatial heterogeneity both within and across the four U.S. Census regions. However, we also find heterogeneity resulting from different types of investigator decisions, including sample selection and modelling choices. Thus, it is necessary to use practical knowledge to consider the limits of market areas and to investigate the robustness of estimation results to investigator choices..