Phipps A G, 1987, "Households' utilities and hedonic prices for inner-city homes" Environment and Planning A 19(1) 59 – 80
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Households' utilities and hedonic prices for inner-city homes
A G Phipps
Received 9 September 1985; in revised form 6 May 1986
Abstract. The housing-consumption preferences of a sample of inner-city owner-occupants in Saskatoon are covered from their unconstrained residential preferences for housing and neighborhood types. These unconstrained utilities are quantitatively compared with implicit prices for the same housing and neighborhood types, computed from a hedonic housing price model. A first finding is that the households preferred the levels of eight of the twelve residential attributes that were also the highest priced. In contrast, a second finding was that their unconstrained utilities were negatively monotonically related to the hedonic price scales for four attributes, neighborhood housing, renovation/basement, age of construction, and family life cycle of the neighborhood people. The salience of these four divergences between the scales of value, in terms of future land-use and social change in inner-city neighborhoods, is discussed.
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