• Environmental and Resource Economics Review
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• v.11 no.4
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• pp.707-722
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• 2002

본 연구는 헤도닉가격기법과 비교정태분석을 사용하여 휘발유가격에 대한 자동차의 연료효율성과 속성의 수요탄력성을 추정한 것이다. 탄력성을 추정하는 데에는 휘발유가격에 대한 장기간의 시계열자료 대신 분석의 기준년도인 2001년의 평균휘발유가격이 사용되었으며, 그리고 2001년에 한국에서 새로 출시된 110개 자동차 모델에 대한 자료가 이용되었다. 분석의 대상이 되는 자동차의 속성으로는 디자인, 실내공간의 넓이, 엔진 배기량, 장착가능한 편의장치, 그리고 연비 등을 포함시켰다. 휘발유가격에 대한 연료효율성의 장기적인 수요탄력성은 0.366으로 추정되었다. 그 외 속성들의 수요탄력성도 비탄력적인 것으로 도출되었다. 따라서, 휘발유가격은 자동차의 속성들과 연료효율성의 소비에 큰 영향을 미치지 않는 것으로 해석할 수 있다.

• Journal of the Korean Society of Marine Environment & Safety
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• v.14 no.4
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• pp.275-287
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• 2008

Noise externalities are a ubiquitous problem in modern societies. Research to estimate damages and potential efficient solutions therefore is important for addressing such problems. The results of a hedonic property model show that noise has a statistically significant and quantitatively important negative effect on property values. The key results for the best model show that damages (in year 2000 dollars) are - $5000 ${\ast}$ (ln dB), where dB is noise measured in decibels, allowing for the influence of other factors. Because ln(dB) is a strictly concave funaion, the "noise damage function"exhibits diminishing marginal effects with noise.

• Journal of the Korean housing association
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• v.22 no.5
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• pp.47-57
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• 2011

The purpose of this research is to demonstrate the necessity of conserving and maintaining eco-parks by estimating their economic value. Wonheung-ee Park in Sannam 3 District of Cheongju City was chosen as the subject and a quantitative estimation was conducted. The quantitative analysis utilized the hedonic price model that estimates the value of non-market goods. The summarized results of this study are follows. The subject park influenced the prices of its neighboring apartments. The most important factor was the distance between the park and the subject apartment. When the distance was longer than 400m, the impact was greatest. The quantitative assessment also showed that apartment prices and the distance between an apartment and the park had a negative relationship. When the distance increased by 1%, apartment prices decreased by 0.430%. This means that within a certain distance, the closer an apartment is to the park, the higher is the price. Demonstrating the economic value of eco-parks, this study also supports the importance of preserving eco-areas. It generally shows that when we develop a city, we should refrain destroying the ecosystem.

• Journal of the Korean Geographical Society
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• v.48 no.2
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• pp.272-287
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• 2013

This paper describes the importance of selecting explanatory variables(e.g. land price determinants) in hedonic pricing models employed in predicting real estate price, and explores dynamics of the land price determinants over time. The City of Junju was chosen as the study area, and repeated measured price data of standard lots over 17 years were analyzed. We applied a three-level modeling approach to this data in consideration of its nested data structure and longitudinal characteristics. Main land price determinants we focused on are primarily based on items included in the standard comparison table of land price, which is an official hedonic pricing model used by Government to estimate land price for tax levy. Our result shows that the land price fluctuation over 17 years was not uniform over the whole study area with each neighborhood revealing different price trend, and as such warrants longitudinal model components. In addition, some of determinants previously recognized as important were proved insignificant. It was also found that significant determinants at a particular time point lost its power gradually over time and vice versa. It is expected that more accurate prediction of price would be possible when taken account for this dynamics of price determinants over time in applying hedonic pricing model method.

• Journal of the Korea Institute of Building Construction
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• v.6 no.3 s.21
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• pp.67-73
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• 2006

This study aims to evaluate the feasibility of remodeling business by predicting the future price of apartment house after remodeling using Hedonic Price Model. The data concerning such 9 independent variables as location, unit size, unit plan, landscape, parking, the number of elapsed years after completion, number of units, mechanical performance, interior from 25 regions in Seoul metropolitan city were collected and evaluated by established evaluation criteria. The coefficients affecting the price of apartment unit were made by Ivay of linear multi-regression and put into Hedonic Price Model. The feasibility evaluation model for apartment was made and verified by data of remodelled apartment. The predicted results using suggested evaluation model coincide with actual apartment market situations.

• Land and Housing Review
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• v.14 no.3
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• pp.37-53
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• 2023

This study conducted an empirical analysis of how different types of living retail businesses affected housing prices during the COVID-19 pandemic, with a particular focus on both global and local time series effects. The main findings are three folds: First, from a global perspective, the study discovered that the presence of living retail businesses had a significant impact on prices of nearby apartment, varying according to their type. Secondly, the impact of COVID-19 on the retail industry varied depending on the type of business. Thirdly, when viewed from a local standpoint, the impact of the retail business sector on apartment prices due to COVID-19 pandemic was substantial, varying across regions and business types. This implies that external shocks like COVID-19 have the potential to alter the role and perception of living retail businesses. In light of this, the study has put forth policy implications aimed at mitigating the adverse effects of living retail businesses and enhancing residential quality.

• Journal of the Korean Association of Geographic Information Studies
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• v.27 no.3
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• pp.43-59
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• 2024

This study focuses on identifying the impacts of the Nowon resource recovery facility in Seoul, Korea, on the real transaction price of apartments in the neighboring areas between 2006 and 2022, and the spatial extent of the impact. Resource recovery facilities, which generate electricity and heating energy while disposing of waste, are typical unwanted facilities that have a negative impact on neighboring property prices. As direct landfilling of household waste is banned in Seoul from 2026 and nationwide from 2030, the demand for the expansion of waste incineration facilities, including resource recovery facilities, is expected to increase rapidly. In addition, social disputes related to the decline in neighboring property prices are expected to increase. This study analyses the impact of the Nowon resource recovery facility on surrounding apartment prices over a 17-year period since 2006 using hedonic price models for apartments, and finds that the Nowon resource recovery facility consistently has a negative impact on nearby apartment prices, the spatial extent of the impact is at least 1,000 meters from the facility, and the intensity of the negative impact weakens as the distance from the facility increases. The results of this study differ from recent studies finding that the spatial extent of the impact of resource recovery facilities in Seoul on surrounding property prices is limited within 500~600 meters, suggesting that a broader approach is needed to systematically manage social conflicts that are expected to increase with the growing social demand for resource recovery facilities.

• Journal of the Korean Geographical Society
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• v.39 no.6 s.105
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• pp.907-921
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• 2004

Lots of characteristics such as dwelling, neighborhood, and accessibility characteristics affect to the housevalue. Many researches have been done to identify values of each characteristic using hedonic technique. However, there is a limit to identify interaction of each characteristic and variation of each characteristic among the accessibility context. This paper has implemented the Expansion Method research paradigm to model the housevalue determination process in the city of Seoul. The findings of this paper have revealed the presence of contextual variations in the housevalue determination process. The initial model for housevalue reveals that as $F_1$ increases (i.e., larger the number of rooms/bathrooms, larger parking space) and/or $F_2$ increases (i.e., higher owner occupied housing units, higher apartment housing units) and/or $F_3$ increases, (i.e., higher the ratio of higher than college graduated households, 8 school zone, older housing units) the estimated housevalue increases. However, the above relationships drift across their respective contexts. The houses which have negative $F_1$ value, the housevalue does not fluctuate according to the distance to the city center or subcenters. However, the houses which have positive $F_1$ value, the closer to the subcenters or shorter to the river, the higher the estimated housevalues. On the other hand, in areas far from the subcenters, the estimated housevalues does not fluctuate much according to the corresponding $F_2$ level. In areas close to the subcenters, the estimated housevalues vary tremendously according to the $F_2$ value. In the residual analysis, it is revealed that large apartment which are located in Kangnam, IchongDong, MokDong are underestimated. This paper has contributed to our understanding of the housevalue determination process by providing an alternative conceptualization to the traditional approach.

• Journal of the Korea Institute of Building Construction
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• v.10 no.1
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• pp.121-126
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• 2010

When constructing housing, various factors affect the housing purchase price. These factors are considered in the whole process of construction, and the feasibility of a project is then studied based on these factors. Recently, Highest-end Housing in Gangnam has a large market ofpotential and fixed clients in the Korean construction business. However, there has been a lack of research related to the Highest-end Housing market thus far. Therefore, this paper focuseson the factors affecting the Highest-end Housing price, and the level of the effect. Ultimately, the results of this research could be used as basic information for enhancing the competitiveness between the construction companies that build villa apartments,and support the business model.

• Journal of the Korean association of regional geographers
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• v.21 no.2
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• pp.379-393
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• 2015

The fire damage has been increased as the frequency of fire incidence decreases with increasing in death and economic loss. Local governments are dependent on the activities of fire-fighters with crude preparedness and prevention for fire incidence. Most of researches on fire safety have focused on descriptive statistics which show general trends in fire incidence and condition. Here we tried to make a mutual causal model for fire damage, to make three big hypotheses with laying three small hypotheses under each big hypothesis. Five years statistics from public domains in the form of hardcopy or softcopy were collected and fifteen independent variables were selected to explain the number of death, the number of fire incidence and the amount of economic loss from fire incidence. The significances of statistics are different among the regional characteristics. The hypotheses were partially rejected and the meanings of rejected factors will refresh the tentative prejudice. It is necessary to revise the principle that the number of population and size of area are regarded as the most important criteria to allocate resources for fire control and to have the criteria flexible with results of our research such as the number of the weak to fire disaster.