An integrated causal framework to evaluate uplift value with an example on change in public transport supply
本文回顾了测量公共交通对房地产增值的因果效应的方法论挑战，提出一个基于Alonso-Muth-Mills模型的调整参数方法，能处理空间异质性、空间自相关、选择性和预期效应，并以加拿大魁北克市快速公交系统为例展示方法应用。
Many empirical applications aim to isolate the impact of implementing new public transport on real estate uplift value. While their conclusions generally point to positive impact, due to reduction in transportation cost, the methodological framework to investigate uplift value has largely evolved over time. This paper reviews the different methodological challenges in measuring causal uplift value and proposes an adjusted parametric approach inspired from the Alonso-Muth-Mills model, returning a complex 2-D price premium function allowing for spatial heterogeneous patterns of the average treatment effect. The proposed framework also accounts for other methodological challenges underlined by literature such as spatial autocorrelation, selectivity and representativity issues, and possible anticipation effects. To illustrate the importance of methodological choices on estimation results, the framework is applied to the case of the implementation of a bus rapid transit (BRT) system in Québec City, a medium-size Canadian city, as a specific case study.