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While numerous studies have shown that rail transit investment increases property value close to stations, not much has been said on the transit-induced indirect changes in neighborhood amenities and their role in property market's response to transit investment. The rapid expansion of Beijing's subway system over the last decade provides a precious opportunity to research the transit—retail amenities—property value connection. This paper enhances our knowledge by studying how local consumer amenities react to urban rail transit development and subsequently reflect in consumers’ willingness to pay. Using multiyear subway construction history, station neighborhoods’ restaurant activities and rental housing transactions in Beijing, we find a new subway station positively contributes to the number of new openings and the diversity of nearby restaurants. The changes in neighborhood restaurant activities capture 20–40% of the home value appreciation following the construction of a subway station. Our findings support the “multiplier effect” of neighborhood retail amenities in rail transit's impact on local home value. The public investment in transit and the private market responses complement each other and together contribute toward urban quality of life, as revealed by the appreciation in local property values. [ABSTRACT FROM AUTHOR]

Transport plays a critical role in facilitating competitiveness in post-industrial economies. High quality transport services and infrastructure enhance internal and external connectivity. This research examines published and unpublished evidence of economic impacts of modern light rail (tram and light metro) systems in the United Kingdom and globally. Evidence is considered relating outcomes of investment in light rail systems to: unlocking previously hard to reach sites for development; triggering fresh growth through elimination of significant transport constraints; stimulation of inward investment; extension of labour market catchment areas; reorganisation or rationalisation of production, distribution and land use; and land and property value increase and capture. Urban light rail investment can help regenerate Central Business Districts and boost employment and property prices. Similar rail investments in different locations may not however have the same economic impacts — geography matters. Other conditions in addition to transport investment are required for positive externalities. [ABSTRACT FROM AUTHOR]

Public resources such as transportation, hospitals, parks, and schools are important factors in housing prices. However, studies on property value have mainly concentrated on transportation, and few studies have focused on the effect that green space has on property values. Researchers have mainly focused on specific parks within different communities rather than parks (on a larger scale) to study the average impact of green space on housing prices. Therefore, the objective of this research is to quantify the effect of public resources on property value, especially green space, using the hedonic pricing method (HPM). This paper focuses on 71 parks within Shenzhen to make results universal. Transaction price data and the structural attributes of 6,473 dwelling units were collected. This paper looks at HPM from three dimensions: structural attributes, location variables, and environmental variables. The results showed that (1) proximity to a central business district (CBD) produced the greatest effect on housing prices, followed by distance to park, distance to school, distance to arterial road, and distance to subway; (2) proximity to a park noticeably contributes to housing prices at 0.041%, and housing prices decline at a rate of 20,920 CNY (US$3,356)/=km depending on distance to the nearest park; and (3) the average influence radius of Shenzhen parks was 1.73 km, and the 71 parks could promote an increase in value across 412.14 km2 of land. This research will be helpful in residential housing purchase decision-making, for reasonable estate development layouts (for developers), and for governments (in terms of increasing environmental tax to promote green space preservation). [ABSTRACT FROM AUTHOR]

There has been a notable increase in co-offending research in recent years, with most studies focusing on the causes and correlates of co-offending. There is little known, however, about the consequences of co-offending and how it may influence crime event outcomes for the offender. The present study compares the monetary reward and arrest risk of solo and co-offending robberies. Data from the National Incident Based Reporting System were analyzed to examine the characteristics and outcomes of robberies perpetrated by one, two, three, and four or more offenders. Though co-offending incidents were associated with greater total property value stolen, co-offending incidents resulted in significantly less property value per offender, controlling for other incident characteristics. The likelihood of an incident resulting in an arrest significantly increased with the number of offenders. We discuss the implications of our findings for theory and research on the real and perceived benefits and costs of co-offending. [ABSTRACT FROM PUBLISHER]

Investment in quality education in the neighbourhood would be supported by the people as it is often cited as an important attribute that distinguishes a community. A good quality school-network thus can be viewed as a positive amenity that is capitalized into residential property values. The study employs two hedonic models based on two large samples in order to explore the intuition that quality-school environment is capitalized into house prices. Results suggest that there is a significant effect of school-quality on house price. Potential buyers are ready to pay a large premium ranging from 27% to 39% for housing units in the top-tier school-networks. Results further reveal that the extent of capitalization of school quality into house price varies across locations. Results also suggest that property buyers rank variables such as quality school-network higher than such profile issues as age , floor level , and accessibility to transport and shopping. The findings imply that investment in quality education in the neighbourhood enhances the house property value significantly; and well-known elite schools add value to properties and increases in property price. These findings shed light on the market's ability to capitalize quality-school environment into property value though the extent of capitalization may vary across locations. [ABSTRACT FROM AUTHOR]

This study compares Issaquah Highlands' home prices with those of traditional suburban single-family homes in the city of Issaquah. Issaquah Highlands is a community that was developed using New Urbanism principles. The null hypothesis is that the sale prices of houses in Issaquah Highlands are not different from the conventional suburban neighborhood in the city of Issaquah. The principal database consists of US Census Washington State Geospatial Data Archive, and the King County Tax Assessments. The final dataset contains 1,780 single family homes over the seven-year period from 2012 to 2018 based on sale records throughout the city of Issaquah. This study uses the hedonic pricing technique to assess the impact of New Urbanism on the value of single-family residences. The findings suggest that people are willing to pay a $92,700–96,800 premium (approximately 7.1–12.0 percent of the sales prices) for houses in Issaquah Highlands. [ABSTRACT FROM AUTHOR]

We re-analyze quantitative and qualitative data from a study of a white, working-class neighborhood in mid-twentieth century Chicago to pursue two research goals. First, we test how attitudes toward blacks as coworkers and neighbors are correlated, and determine whether those attitudes are associated with commitment to the union and neighborhood attachment. Second, we address three timely issues in urban sociology and race relations: (1) how community efficacy is related to attitudes toward racial exclusion, (2) whether white homeowners are likely to oppose racial minorities as neighbors due to fears over property value decline, and (3) the "whitening" process by which people of southern and eastern European ancestry came to embrace a white racial identity. [ABSTRACT FROM AUTHOR]

A review on numerical simulations performed for solidification and melting process of nano-enhanced phase change materials (NEPCM) is reported. The studies were conducted to understand the factors influencing the process such as nanoparticle fraction in the mixture, nanoparticle size and shape, boundary conditions imposed and container and fin geometry. Then, common nanoparticles applied in the studies were highlighted. The numerical models applied to simulate the problems were next presented. Finally, the thermophysical properties predicted and applied in the numerical works were compared. It was found that copper was the most applied nanoparticle in the numerical simulations. Most researchers applied enthalpy-porosity formulation coupled with finite volume method to perform the simulations. This method was preferred because it is relatively simpler compared to multidomain approach and mesoscale methods. Regardless of the chosen method, most researchers used a single thermophysical property value for the NEPCM in both solid and liquid regions. Brinkman and Maxwell correlations were mostly used to approximate the dynamic viscosity and thermal conductivity of the NEPCM, respectively. It is essential to understand the limitations and to select the most suitable thermophysical properties correlation to be applied in the numerical simulations to ensure that the final results will be acceptable and deviation from experimental works is effectively suppressed. [ABSTRACT FROM AUTHOR]

Flooding location, its consequences as well as insurers respo nsibility and citizens' trust, lead to a debate on policies for sustainable investments. The facts' interpretation is supported by periodical press data from 1900 to 2015 with a tested 84.3% approximation to reality concerning the Hydrographic Basin of the river Vez. This research's innovation as to do with the value of the insurance policy, taking into account the distance between the point of the exposed element and the nearest river course in the rainiest months. The methodology allows yet to evaluate and readjust, throughout time, the effects of the factors and the policies on property value and/or real estate. These factors contribute to public investments savings, both of insurers and insured. A readjustment to insurance policy's membership rate is proposed. With this methodology a fairer insurance policy's value can be offered to the interested parties, adapting it to hydrological and investment sustainability. [ABSTRACT FROM AUTHOR]

For many years, debates on the change of the real estate tax system have been underway in Poland. The proposed reform would consist in the change from the currently binding method of calculating the amount of tax in relation to the real estate area to ad valorem taxation, in other words its property value. Although the law in force in Poland describes the cadastral tax definition and the methodology for its determination, there are no actions aimed at changing the tax system. A huge social reluctance resulting mainly from the belief that changes in the field of land taxes will be associated with an increase in fees cause stagnation at government level in making decision in this direction. However, the cadastral tax is not something new in Poland. It appeared, in various shapes, at many stages in the history of the Polish State. The subject of the work is the historical analysis of land cadastre and real estate taxation in Poland. The aim of the article is to show the methodological complexity in property taxation, with particular emphasis on the systems of calculating taxation in relation to the value of owned goods appearing in the history of Polish taxes. [ABSTRACT FROM AUTHOR]

Understanding the relationship between fire department response times and fire outcomes is critical for understanding the impact of a fire department in a community. This paper outlines a statistical analysis of United States fire department response times to fires in 1–2 family residential dwellings between the years 2002–2017. Using data from the National Fire Incident Reporting System (NFIRS), it is shown that a log-normal distribution provides a reasonable approximation of the empirical distribution of response times. Furthermore, this paper investigates the effect of increasing response times on several different measures of fire severity, including the reported fire spread category, the estimated monetary property and contents losses, and the reported flame damage. It was found that all averaged measures of fire severity increase over the interval of 3–13 min of response time, which is primarily due to the increased likelihood of very severe fire incidents at longer response times. An analysis was conducted to assess the effect of meeting the first unit response time benchmarks outlined in NFPA 1710 on the severity of fire outcomes in a community. It was found that department response times were most strongly correlated with the fraction of fires that do "extreme" damage to at least one story and the fraction of the property value lost. It has been proposed that a power law distribution is appropriate for modeling the distribution the burned areas in urban fires. In order to assess whether this proposition is supported by United States data, a Monte-Carlo methodology has been developed to estimate the burned area indirectly from NFIRS data. Finally, several methods are presented for evaluating data consistency and quality from the NFIRS reports. One of the major findings of this study is the quantification of the effect of response time on various measures of fire loss. [ABSTRACT FROM AUTHOR]

The Tabula Alimentaria of Veleia records the details of two second-century a.d. imperial alimentary schemes at the northern Italian town of Veleia, providing a rare insight into the workings of these schemes. Imperial loans are made to local landowners in exchange for pledges of specified property. Interest paid by landowners is used to fund cash subsidies for the upbringing of selected local children. In the early twentieth century, the French scholar Félix de Pachtere came close to demonstrating a consistent arithmetical relationship between a landowner's declared property value and the loan received. However, anomalies remained. This article proposes a revised formula which establishes a precise and consistent linkage between loan amounts and property declarations. Based on this arithmetical dataset, the paper proposes some hypotheses about how these fractional computations might have been performed in second-century Rome. [ABSTRACT FROM AUTHOR]

We examine the extent to which the increased prevalence of work from home (WFH) due to the COVID-19 pandemic has made green amenities more desirable. 2 2 Data provided by Zillow through the Zillow Transaction and Assessment Dataset (ZTRAX). More information on accessing the data can be found at http://www.zillow.com/ztrax. The results and opinions are those of the authors and do not reflect the position of the Zillow Group. Specifically, we focus on ten metropolitan statistical areas (MSAs) in the United States (Baltimore, Chicago, Cleveland, Los Angeles, Minneapolis/St. Paul, New York City, Philadelphia, Pittsburgh, St. Louis, and Tampa) and use a hedonic pricing approach to identify changes in the implicit prices of yard space and park proximity. We use a combination of data sources, including the Zillow Transaction and Assessment Database (ZTRAX), Open Street Maps, Longitudinal Employer Household Dynamics Origin–Destination Employment Statistics (LODES), National Land Cover Database (NLCD), and the Environmental Protection Agency's EnviroAtlas to study the interactions between the exposure of a given neighborhood to WFH shock and private yard space, as well as proximity to the nearest park. Our findings suggest that home buyers in all the MSAs, except Minneapolis and Pittsburgh, assigned a greater value to private green amenities during the post-COVID period. However, for the MSAs of Los Angeles, New York, Philadelphia, and Pittsburgh, the marginal willingness to pay (MWTP) for private green spaces decreased in the post-COVID period in the areas with large WFH shocks. No significant change in the MWTP for proximity to public green spaces is noted in the post-COVID period for most MSAs. An event study of yard space reveals that most MSAs experienced an increase in the hedonic price of yard space in the post-COVID period. In the pre-COVID period, for many MSAs, the hedonic price of yard space was decreasing over the years, and this trend reversed in the post-COVID period. These results suggest that the preferred amenity bundles of people living in major cities in the U.S. have shifted as a result of changes in their commutes and work habits. • In the post-COVID period, MWTP for private green spaces (yards) increased. • Increased MWTP for yards not correlated to the extent of work from home. • No change in the MWTP for park proximity observed post-COVID. [ABSTRACT FROM AUTHOR]

• We provide causal estimates of the economic benefits of water storage infrastructure. • The commission of a reservoir increases residential property and farmland values. • We also find significant increases in rice yield but no effect on planted areas. • We find no change in groundwater levels, despite the expectations of reduced groundwater use. Water storage infrastructure is an indispensable part of many water supply systems, and its importance is experiencing a resurgence due to the increasing water irregularity induced by climate change and ever-growing water demand. Leveraging the commission of Hushan Reservoir in Taiwan as a quasi-experiment, this study provides some of the first causal evidence of the economic benefits of a reservoir from housing market and crop production for guiding sustainable water management. Using the administrative property transaction data and a spatial difference-in-differences framework, we find that the commission of Hushan Reservoir increases the values of residential property and farmlands by 4.1 and 8.9 %, respectively. We also find that enhanced irrigation water availability increases rice yield by over 4 % but has no impact on planted areas. Despite expectations of reduced groundwater use, our results show no evidence of a rebound in groundwater levels in the four years following the commission of the reservoir. [Display omitted] [ABSTRACT FROM AUTHOR]

Developer obligations (DOs) have been increasingly adopted to capture land value increases and finance urban infrastructures in countries around the world. The practice of DOs in China emerged mainly for the purpose of urban redevelopment. This research attempts to examine how DOs affect the property prices of redevelopment projects from the perspective of land dedication in China's bottom up urban redevelopment. The hedonic pricing model and spatial economic models are applied to 2357 real property transaction price samples for analyzing the DO effects in Shenzhen, China. Research findings reveal that DOs have positive impacts on the property prices of redevelopment projects. Thus, developers and property owners do not have to be against the fulfillment of their obligations. Furthermore, empirical results indicate a non-linear relationship between DOs and property prices: with the increase of DOs, property value premiums present an inverted U-shaped curve (increase first and then decrease). The redevelopment projects with 27%–38% land dedication ratio have the highest value premium. The reasons for the inverted-U shaped effects are further analyzed. The findings from this study provide valuable references for decision makers to formulate effective and tailor-made DO strategies in the field of land value capture and urban redevelopment. • Appropriate DOs positively affect the property prices of redevelopment projects. • With the increase of DOs, property value premiums present an inverted U-shaped curve. • Redevelopment projects with 27%–38% land dedication perform higher value premium in Shenzhen. • Excessive DOs, in turn increase local development density and overload public infrastructures. [ABSTRACT FROM AUTHOR]

Our meta-analysis uses 21 hedonic property value studies and 157 unique observations to study the influence of tree cover on the value of homes in the United States. We construct elasticity estimates of the percentage change in home value for a 1% change in the percentage of tree cover around a home. Cluster weighted averages of the elasticities account for the housing market and the precision of the property price effects for tree cover on and off property and for three categories of tree cover density. Meta-regression models further control for the housing market and tree cover heterogeneity, the methodological techniques of the primary study, and publication bias. The Mundlak meta-regression model with controls for US regions has the lowest out-of-sample transfer error. The larger elasticity for off property tree cover than on property tree cover (unless tree density is 10% or lower) suggests that the property value of homes rises more if tree cover is not on land that homeowners are responsible for maintaining. The elasticity in neighborhoods with greater than 25% tree cover (0.013) is four times larger than the elasticity in neighborhoods with 0 to 10% tree cover (0.003). [ABSTRACT FROM AUTHOR]

We demonstrate how the properties of a galaxy depend on the mass of its host dark matter subhalo, using two independent models of galaxy formation. For the cases of stellar mass and black hole mass, the median property value displays a monotonic dependence on subhalo mass. The slope of the relation changes for subhalo masses for which heating by active galactic nuclei becomes important. The median property values are predicted to be remarkably similar for central and satellite galaxies. The two models predict considerable scatter around the median property value, though the size of the scatter is model dependent. There is only modest evolution with redshift in the median galaxy property at a fixed subhalo mass. Properties such as cold gas mass and star formation rate, however, are predicted to have a complex dependence on subhalo mass. In these cases, subhalo mass is not a good indicator of the value of the galaxy property. We illustrate how the predictions in the galaxy property-subhalo mass plane differ from the assumptions made in some empirical models of galaxy clustering by reconstructing the model output using a basic subhalo abundance matching scheme. In its simplest form, abundance matching generally does not reproduce the clustering predicted by the models, typically resulting in an overprediction of the clustering signal. Using the predictions of the galaxy formation model for the correlations between pairs of galaxy properties, the basic abundance matching scheme can be extended to reproduce the model predictions more faithfully for a wider range of galaxy properties. Our results have implications for the analysis of galaxy clustering, particularly for low abundance samples. [ABSTRACT FROM AUTHOR]

Inspired by biological systems in which damage triggers an autonomic healing response, a polymer composite material that can heal itself when cracked has been developed. In this work, compression and tensile properties of a self-healed fibre reinforced epoxy composites were investigated. Microencapsulated epoxy and mercaptan healing agents were incorporated into a glass fibre reinforced epoxy matrix to produce a polymer composite capable of self-healing. The self-repair microcapsules in the epoxy resin would break as a result of microcrack expansion in the matrix, and letting out the strong repair agent to recover the mechanical strength with a relative healing efficiency of up to 140% which is a ratio of healed property value to initial property value or healing efficiency up to 119% if using the healed strength with the damaged strength. [ABSTRACT FROM AUTHOR]

Although previous studies on property value effects of land use policies have focused primarily on agricultural properties and on residential properties in close proximity to preserved areas, this paper examines for the effect on rural residential property values within the preserved area. This effect is examined in the context of Ontario's Greenbelt legislation, which prohibits urban development of rural land within a large area around the Greater Toronto Area (GTA). This preserved area includes not only agricultural properties but also a substantial amount of rural residential properties due to proximity to the GTA. With the amenity value that rural residential properties derive from the surrounding rural landscape, the imposed development restrictions that permanently preserve this open space are anticipated to increase the values of these properties. This expectation is confirmed by the results of a hedonic approach, which indicate a positive effect on the values of rural residential properties within the Greenbelt's boundary. This effect is found to be greater for properties with more surrounding open space and those that are relatively closer to the GTA. These results also provide an estimate of the property value impact of converting all surrounding developable open space to permanently preserved open space. [ABSTRACT FROM AUTHOR]

The magnitude increase of Urban Quality of Life studies is directly connected with the increase of the urban population in the world. Urban Quality of Life is a hierarchical multi-attribute concept whose attributes can be defined and evaluated by several kinds of methods such as Monetary (Hedonic Price, Willingness-to-pay, Cost-Benefit, Positional Value), Subjective (life satisfaction, subjective wellbeing, ranking/rating evaluation) and Quantitative (how many urban attractions there are in the city, and how they are distributed on its planimetry). As real examples of monetary approaches, 107 empirical literature results are briefly shown, quantifying the increase of property value in relation to urban factors such as green, open space, noise, public transport, pleasant view, etc. The result of a Willingness-to-Pay survey, and the definition of Positional Value are also shown; it is the part of property value coming from the characteristics of the area in which the property is. An analysis of Turin illustrated that the quality of the area (the Positional Value) can change the value of a property up to 143 %. This value is, in a certain way, a monetary mirror of the quality of life of the areas. As a concrete example of subjective approaches two rating method surveys on Turin are rapidly exposed, as well as a recent subjective wellbeing study comparing the life satisfaction in cities and in the countryside. As quantitative approaches are proposed the concepts of Isobenefit Lines and the Isobenefit Orography, both from the spatial urban amenities distribution and quantity. [ABSTRACT FROM AUTHOR]

Modeling the probability of default for commercial real estate mortgages is more complicated than that for non-commercial real estate loans. This is because borrowers will default only if both the net operating income and the property value fall below the threshold levels. To make modeling more complicated, the property value at the time of default will determine the loss-given default. In this paper, I derive closed-form solutions for the probability of default and the expected loss of commercial real estate mortgages in a Merton framework. The model is in its essence still a single risk factor model, although there is a sector risk factor that influences both the net operating income and the property value. I obtain analytically the economic capital for the corporate-wide commercial real estate portfolio, with granularity adjustments for name concentration and sector concentration. [ABSTRACT FROM AUTHOR]

This research quantifies the property value benefits of National Wildlife Refuges near urban areas on the eastern coast of the U.S.A. Our approach is made possible through access to confidential U.S. Census data identifying property values surrounding all refuges with high geographic resolution. Results from hedonic property value models suggest that the amenity values of refuges located near urbanized areas are capitalized into the value of homes in very close proximity, averaging $11million per refuge. These capitalized values add directly to the local tax base and are considerable complements to the annual economic value created by the refuge system. [Copyright &y& Elsevier]

The increase in frequency and intensity of urban flooding is a global challenge. Flooding directly impacts residents of industrialized cities with aging combined sewer systems, as well as cities with less centralized infrastructure to manage stormwater, fecal sludge, and wastewater. Green infrastructure is growing in popularity as a sustainable strategy to mimic nature-based flood management. Although its technical performance has been extensively studied, little is known about the effects of green stormwater infrastructure on human health and social well-being. We conducted a multidisciplinary systematic review of peer-reviewed and gray literature on the effects of green infrastructure for stormwater and flood management on individuals', households', and communities' a) physical health; b) mental health; c) economic well-being; and d) flood resilience and social acceptance of green infrastructure. We systematically searched databases such as PubMed, Web of Science, and Scopus; the first 300 results in Google Scholar; and websites of key organizations including the United States Environmental Protection Agency. Study quality and strength of evidence was assessed for included studies, and descriptive data were extracted for a narrative summary. Out of 21,213 initial results, only 18 studies reported health or social well-being outcomes. Seven of these studies used primary data, and none allowed for causal inference. No studies connected green infrastructure for stormwater and flood management to mental or physical health outcomes. Thirteen studies were identified on economic outcomes, largely reporting a positive association between green infrastructure and property values. Five studies assessed changes in perceptions about green infrastructure, but with mixed results. Nearly half of all included studies were from Portland, Oregon. This global systematic review highlights the minimal evidence on human health and social well-being relating to green infrastructure for stormwater and flood management. To enable scale-up of this type of infrastructure to reduce flooding and improve ecological and human well-being, widespread acceptance of green infrastructure will be essential. Policymakers and planners need evidence on the full range of benefits from different contexts to enable financing and implementation of instfrastructure options, especially in highly urbanized, flood-prone settings around the world. Therefore, experts in social science, public health, and program evaluation must be integrated into interdisciplinary green infrastructure research to better relate infrastructure design to tangible human outcomes. • No studies were found on human health impacts of green stormwater infrastructure •Most economic studies focused on property value and green stormwater infrastructure •Social and health research is key to understand and scale‐up green infrastructure •Rigorous program evaluation will strengthen the evidence base for policymakers [ABSTRACT FROM AUTHOR]

Today, there exist many centrality measures for assessing the importance of nodes in a network as a function of their position and the underlying topology. One class of such measures builds on eigenvector centrality, where the importance of a node is derived from the importance of its neighboring nodes. For directed and weighted complex networks, where the nodes can carry some intrinsic property value, there have been centrality measures proposed that are variants of eigenvector centrality. However, these expressions all suffer from shortcomings. Here, an extension of such centrality measures is presented that remedies all previously encountered issues. While similar improved centrality measures have been proposed as algorithmic recipes, the novel quantity that is presented here is a purely analytical expression, only utilizing the adjacency matrix and the vector of node values. The derivation of the new centrality measure is motivated in detail. Specifically, the centrality itself is ideal for the analysis of directed and weighted networks (with node properties) displaying a bow-tie topology. The novel bow-tie centrality is then computed for a unique and extensive real-world dataset, coming from economics. It is shown how the bow-tie centrality assesses the relevance of nodes similarly to other eigenvector centrality measures, while not being plagued by their drawbacks in the presence of cycles in the network. [ABSTRACT FROM AUTHOR]

The article explore diversion of water from Lake Tahoe by the State of California would lead to a viable takings claim by the homeowners of property within the Tahoe Keys. It mentions economic effect that a water element has on a property value and rights to the water in Lake Tahoe of both the state of California and the homeowners within the Tahoe Keys. It also mentions takings jurisprudence and applies on the California's diversion of the water.

Houses with desired aesthetic views have a price premium over similar houses without such views. This article raises the following questions in relation to view as a location-specific amenity: How can we calculate a reliable indicator for view using available information? Are dwellings with a view sold for a premium compared to otherwise similar properties? Using more than 5,000 house transactions in the Illawarra region in Australia, and applying hedonic price method, the study analyses the price effects of key aesthetic views. Due to unavailability of view as a housing characteristic within historical records, spatial analysis tools were used to estimate views for housing locations. The results confirm the significance of aesthetic views in explaining house prices. Beach view is the most important aesthetic view. An increase of 1% of beach view drives house prices up by nearly 2–3%. Significant positive contributions to prices are also evident from sea, conservation area and inland water views. In addition to the views, other location-specific attributes also influence house prices. Methods developed in this study to quantify the value of aesthetic views and location-specific characteristics associated with residential locations form an important contribution to urban planning and policy development. [ABSTRACT FROM AUTHOR]

A tremendous number of studies have investigated the relation between real estate value and characteristics of the area. This paper briefly shows more than one hundred empirical results from the literature, quantifying how much positional factors such as green, social context, pedestrian areas, pollution, aesthetics, views and accessibility influence the property value. We call Positional Value that part of the real estate value given from the characteristics of the area. As an empirical example, an analysis of the city of Turin shows how, changing the area of the city, the value of a house increases/decreases as much as 142% of its own value, ceteris paribus, even among areas quite close to each other. More specifically, the output of this study indicates that the real estate value decreases by 0.23% for each 1% increase of the distance from the city centre, but increases by 0.58% for each 1% increase of the quality of the site. The monetary costs of housing, time and transport, and the qualitative benefits received from the site's characteristics, play a main role within the households' decision processes when choosing among alternative dwellings. On the other way round, the quality of the area is capitalised by the real estate value which may then be seen an indicator of the former. Unlabelled Image • A −0.23% housing value for each +1% distance from the city centre was found. • A +0.58% housing value for each +1% of the quality of the site was found. • 17% cheaper housing for each doubling of the city centre distance, ceteris paribus • Property values change up to +143% by changing location within city, ceteris paribus. • The quality of the location is capitalised by the real estate value. [ABSTRACT FROM AUTHOR]

Ethyl carbamate (EC) is a toxic organic contaminant naturally present in some foods and alcoholic beverages. In order to improve the reliability of EC analysis, certified reference materials (CRM) can be used by the laboratories for quality control and for validation and standardization of analytical methods. This paper presents the development of a CRM of EC in hydroalcoholic matrix. This matrix is comprised by a 43% (v/v) aqueous ethanol solution that simulates distilled alcoholic beverages, which generally have alcoholic degree between 35% and 50%. An isotope dilution gas chromatography–mass spectrometry (ID GC–MS) method was developed, validated and employed to attribute the property value and to carry out the appropriate CRM studies, according to ISO Guide 35. Hydroalcoholic matrix was preferred instead of some distilled beverage because in the natural matrix there are EC precursors, which reacting with ethanol enable EC formation, even along storage under appropriate conditions. The applicability of the developed ID GC–MS method was evaluated by testing 26 samples of whisky, vodka, tequila, pisco, rum and the Brazilian cachaça. No interference was observed showing that it can be employed for EC quality control in distilled beverages. According to the analysis of variance, the CRM was considered homogeneous and stable at (4 ± 2) °C for at least three years. The EC concentration is (149.2 ± 5.7) ng/g. • Hydroalcoholic matrix was used for this CRM because in the natural matrix there are ethyl carbamate precursors that leads to CRM instability. • A primary method, such as the ID GC–MS developed and validated in this paper, is required by ISO 17034 to characterize CRMs. • The developed method and de CRM can be used to analyze several distilled beverages and no matrix effect was observed. [ABSTRACT FROM AUTHOR]

Geography of innovation, creative clustering, urban buzz and innovation districts are place-based concepts that have emerged as a result of the US economy's transformation to knowledge-intensive economies. The notable built environment characteristics of these concepts are spatial clustering, walkability and proximity to urban amenities, diversity, regional connectivity and agglomeration. While several of these characteristics have been associated with urban sprawl in previous studies, there is a lack of direct evidence on how urban sprawl affects innovation productivity. This national study seeks to examine the relationship between urban sprawl, place-based characteristics and innovation productivity. We used Multilevel Modelling to account for built environment characteristics at both neighbourhood and regional levels. We found that innovative firms tend to locate more in census tracts that are less compact but offer spatial proximity to firms in related business sectors. This is likely due to the higher land and property value in compact areas, which could make it unaffordable for small businesses. We also found that the regional compactness positively and significantly affects the number of innovative firms. This is likely due to the role of compact regions in supporting public transit investments, enhancing social capital and reducing poverty and racial segregation. [ABSTRACT FROM AUTHOR]

In the 1980s a "perfect storm" emerged that enabled trails and greenways to move to a central role in contemporary discussions of urban planning. It was comprised of three elements: Railbanking legislation that preserved railroad corridor rights-of-way and authorized their conversion to trails; federal funding for trails in transportation bills; and a public perception of trails as a priority urban infrastructure amenity. When trails are retrofitted through communities, they are invariably opposed by some proportion of proximate property owners who fear a devaluation of their property. To address this issue, a number of opinion surveys were administered between 1978 and 2006 to residents living proximate to trails. 16 such studies were reviewed. They revealed that in both urban and rural contexts only 6% perceived the trail to negatively impact their property value. However, while 47% of the 2,647 respondents living close to one of the 22 urban trails believed it increased their property's value, this was believed by only 16% of the 1,212 who resided proximate to one of 10 rural trails. Opinion data provide general impressions, but they lack empirical verification and quantitative dollar amounts. The emergence of GIS technology and hedonic analysis in the post-2000 era remedied these limitations. Twenty hedonic analyses were identified and their results showed that proximity to a trail resulted in home prices that typically were between 3% and 5% higher than those of comparable homes in the area. In the past decade, several cities have developed urban mega-trails which are defined as large-scale investments that receive enduring visibility, have long-term mass appeal, and have a substantial impact on a community's image and identity. Reviews of hedonic analyses undertaken at the three most prominent mega-trails in New York City, Chicago, and Atlanta confirmed the proximate premiums were generally much higher than those of ordinary trails. Invariably, this created a need to address issues of gentrification and social justice. The review's findings suggest that future research on trails should focus on two nuances. First, it is clear that trails are not homogeneous. There is a need for studies to differentiate among trails with diverse characteristics. Second, the use of electronic data bases has resulted in hedonic analyses incorporating larger samples drawn from more expansive geographical areas. A consequence of this "scaling up" is that potentially substantial differences in the local impact of trails are obscured because only average values are reported. The averages likely underrepresent the impact of some trails and over-represent that of others. The need is for trail specific studies that disaggregate the data by specifying the characteristics of both trail type and abutting demographics. [ABSTRACT FROM AUTHOR]

This article conceptualizes "Desirablizing Whiteness" as a discursive practice. Desirablizing Whiteness occurs when equity efforts aim to include racially minoritized students in actions, situations, formats, and settings where they have been absent or underrepresented, and which have been the "property" of Whites. The literature on discourse, discursive practices, and emotions serve to explain the nature of Desirablizing Whiteness as a complicated and contradictory construct. Tenets from critical race theory highlight the fundamentally racist effect of this discursive practice. Because Whiteness' property value is both tangible and psychic, the presence and role of emotions are key to understanding how Desirablizing Whiteness has a dialectical relationship with human interactions and decision making, ultimately undermining social justice efforts. Practical recommendations for school leaders and scholars concerned with urban education close the article. [ABSTRACT FROM AUTHOR]

Graphical abstract Flow diagram of the proposed methodology. There are two phases in the sampling process. In the first phase, two data generation algorithms are explored for dataset creation, namely partition and allocation. In the first step, we execute our data-generation algorithms (depicted by orange arrows) to generate many valid solutions for each set of constraint. In the second phase, a machine learning-guided feedback-aware sampling approach (depicted by green allows) extracts a combination of non- zero ODF dimensions. ODFs generated with these subset of combinations lead to optimal or near-optimal solutions. Abstract Microstructure sensitive design has a critical impact on the performance of engineering materials. The safety and performance requirements of critical components, as well as the cost of material and machining of Titanium components, make dovetailing of the microstructure imperative. This paper addresses the optimization of several microstructure design problems for Titanium components under specific design constraints using a feedback-aware data-driven solution methodology. In this study, the microstructure is modeled with an orientation distribution function (ODF) that measures the volumes of different crystallographic orientations. Two algorithms are used to sample the entire microstructure space followed by machine learning-aided identification of a minimal subset of ODF dimensions which is subsequently explored by targeted sampling. Conventional optimization methods lead to a unique microstructure rather than yielding a comprehensive space of optimal or near-optimal microstructures. Multiple solutions are crucial for the deployment of materials design for manufacturing as traditional manufacturing processes can only generate a limited set of microstructures. Our data sampling-based methodology not only outperforms or is on par with other optimization techniques in terms of the optimal property value, but also provides numerous near-optimal solutions, 3–4 orders of magnitude more than previous methods. Consequently, the proposed framework delivers a spectrum of optimal solutions in the microstructure space which can accelerate materials development and reduce manufacturing costs. [ABSTRACT FROM AUTHOR]

Determining the weights of market features of real estate in explaining their prices is one of the basic objectives of market analysis, performed as part of the property value estimation process. In practice, property appraisers usually settle for basic methods of determining weights, for example based on the principle of ceteris paribus or on the basis of linear correlation coefficients. The article proposes the use of curvilinear correlation coefficients for this purpose; an attempt of such use was made and the obtained results were compared with the weights determined on the basis of linear correlations. The conducted analyses proved that the inclusion of curvilinear correlations at the stage of market analysis, allows for extracting a greater number of features recognized as price-creating, i.e. leads to a smaller loss of market information and is a more reliable tool for determining the weights of attributes in price explanation. [ABSTRACT FROM AUTHOR]

The article is a voice in the debate on the scope of the application of statistical methods in real estate appraisal, written from the comparative perspective. It presents the results of an illustrative valuation of housing units with the use of databases of various sizes, constructed on the basis of publicly available data from the register of property prices and values. Against this background, the article presents an analysis of differences between the objectives and published results of valuations, which exemplify broadly understood property price modelling or property value modelling, as well as of activities focused around appraising a specific object. The conducted experiments demonstrated that, for the purposes of real estate appraisal itself, the selection of data is more useful than searching for a price model. [ABSTRACT FROM AUTHOR]

Abstract Self-healing polymer composites are part of a class of materials which have the capability to repair themselves when damaged. They are often tested by inflicting damage onto them and then performing a mechanical test to initiate and measure self-healing. Self-healing efficiency is commonly defined as the ratio of a recovered property value to its original value. Applying this in practice can be challenging as most self-healing experiments are idealized scenarios. In this work, microcapsules containing epoxy and mercaptan self-healing agents were incorporated into ±45° composite weaves that were subjected to cyclic tensile loading and unloading. A damage mechanics theory was applied to quantify the change in stiffness and determine self-healing effectiveness. As this method did not enable a direct comparison between the damaged and healed states of the material, a new methodology was developed to take into account the energy levels of the material in order to quantify self-healing performance. [ABSTRACT FROM AUTHOR]

Hedonic models, commonly applied for analyzing prices in the property market, do not always fulfil their role, mainly due to the application of simplified assumptions concerning the distribution of variables, the nature of relations or spatial heterogeneity. Classical regression models assumed that the variation of the explained variable (price) is explained by the effect of market features (fixed effects) and the residual component. The hierarchical structure of market data, both as regards market segments and the spatial division, suggests that statistical models of prices should also include random effects for selected subgroups of properties and interactions between variables. The mixed model provides an alternative for constructing various regression models for individual groups or for using binary variables within one model. With its appropriate structure, it makes it possible to take into account both the spatial heterogeneity and to examine the effects of individual features on prices within various property groups. It can also identify synergy effects. The article presents the issue of mixed modelling in the property market and an example of its application in a market of dwellings in Olsztyn. The research used transaction data from the price and value register, supplemented with spatial data. The obtained model was compared with classical regression models and geographically weighted regression. The study also covered the usefulness of mixed models in the mass evaluation of properties, and the possibility of using them in spatial analyses and for the development of property value maps. [ABSTRACT FROM AUTHOR]

Estimating the effect of rail transit on residential property values has resulted in mixed findings. Some researchers report positive effects on property values while others are negative or insignificant. The current paper argues that the impact of rail transit on property values depends on contextual factors which can influence magnitude and direction of the impact and cause variation in the findings. Tehran’s Metro Rail System is chosen because the neighbourhoods served by the metro to the north side and south side of the city are dramatically different in terms of economic, social and physical circumstances. A comparative analysis of six of Tehran’s metro stations is conducted between the high-income neighbourhoods, which are located primarily on the city’s north side, and lower-income neighbourhoods on the south side to determine the effects of proximity to metro stations on residential property values. The paper uses a mixed-method sequential explanatory design based on a before-and-after estimation strategy, which includes trend analysis, difference-in-differences model and qualitative impact assessment methods. The results show that there are large increases in premiums for residential properties near the lower-income neighbourhoods, the south side parts of the Tehran Metro Rail System, while a negative treatment effect for residential properties lying close to the northern stations in the high-income neighbourhoods. The qualitative survey also suggests that the impact of metro station is affected by a number of contextual factors, including the need for public transportation, land-use planning and management, socio-cultural effect and possible nuisance effects. [ABSTRACT FROM AUTHOR]

The installation of green roof systems is being used as a specific action towards a broader objective of increasing the sustainability of the built environment. Yet, their development is still limited by the absence of a full understanding of their economic value. There is an underlying assumption that these solutions can enhance the value of cities, however contrasting results of past studies do not allow to draw specific conclusions about their real economic contribution. This paper intends to improve the decision-making process by providing an adequate methodology to perform cost-benefit analyses of installing green roofs. The proposed economic evaluation balances costs and benefits at three levels of analysis: financial, economic and socio-environmental. The first level compares construction, maintenance and replacement costs of green roofs with private benefits as discount on fire insurance, energy consumption, improvement of photovoltaic performance and urban rooftop farming. The second level also includes the economic gains from increase of property value, aesthetics, recreation and sound insulation. The third level adds social benefits related to storm water management, noise reduction, air pollution removal, mitigation of the urban heat island effect, public health and ecological preservation. The all-inclusive methodology is successfully applied to Lisbon, Portugal. The study confirmed the economic feasibility of green roofs in the long term at a social level but not at a financial level. The estimated net present value of green roofs implementation in Lisbon is about 320 million euros. A sensitivity analysis is also performed to the costs/benefits included. The results show that aesthetics, recreational value and sound insulation have the highest influence on the economic value. [ABSTRACT FROM AUTHOR]

In this article, the volume fraction of intermetallic compounds in Zr-containing 354-type Al-Si-Cu-Mg alloys, characteristics of eutectic Si particles, and tensile, hardness, and impact properties have been evaluated with varying Ni and Mn contents and combination. The results revealed that additions of Ni and Mn in different amounts and combinations increased the volume fraction of intermetallic compounds in the tailored alloys, compared to the base alloy (cf. 12.21% for 4% Ni-containing alloy with 2.5% for base alloy), producing a significant effect on the mechanical performance. The proposed additions enhanced the mechanical performance of the alloys, namely, the ambient- and elevated-temperature tensile properties, hardness values, and impact properties. For the Mn-containing alloys, the improvement in properties was attributed to the formation of sludge particles in the form of blocky α-Al15(Fe,Mn)3Si2 alongside the script-like α-iron phase that resisted crack propagation. The precipitation of Ni-bearing phases such as Al9FeNi, Al3CuNi, and Al3Ni in the Ni-containing alloys improved the mechanical properties through hindering cracks propagation. Interestingly, addition of 0.75 wt.% Mn to the base alloy proved to be competitive in strength values to the addition of 2 and 4 wt.% Ni, and better in terms of ductility values. The investigations showed that the variations in hardness and impact values follow the same trend as variations in the percentage volume fraction of intermetallic compounds, i.e., maximum property value is associated to the alloy with highest volume fraction of intermetallic compounds. Furthermore, the impact properties showed higher dependency on Al2Cu phase particles rather than the eutectic Si particles. [ABSTRACT FROM AUTHOR]

Focuses on the leadership qualities that are to be developed by library directors who will manage the information services in the 21st century. Complexity of libraries; Ability to lead; Concerns about copyright and intellectual property; Value of a librarian's professional expertise; Flexibility and talent for teamwork and building alliances.

This paper uses an effective means to explore spatial processes and extents of urban decline using Detroit as a case study. We examined spatial lag of X (SLX) model and its variations, using vacant urban land as a proxy for urban decline. Fourth-order of queen contiguity provided an optimal spatial extent of spillover effects, and SLX was the better-fit model. Multi-unit housing structures, female-headed households, recently moved-in household heads, water surface area, and urban land use area showed negative spillover effects whereas manufacturing employee population, old building structures, low-income population, and agricultural land area exhibited positive spillover effects. Additionally, agricultural, urban, and water surface area, property value, and education level showed significant direct effects. The maximum spatial extent clustered 131 census tracts, suggesting a collaboration of all cities/townships, communities, and private sectors to avert urban decline's spillover effects. • Urban decline in Detroit is a spatial process showing apparent spillover effects. • Direct and spillover effects change common perceptions of decline driving factors. • Provide new insights for curbing urban decline by examining its spatial processes. • Spatial econometric models offer a collaborative view of urban revitalization. [ABSTRACT FROM AUTHOR]

The magnitude and direction of the economic effects of removing or retrofitting housing in hazard-prone coastal locations is an open empirical question. Using data from a voluntary buyout and acquisition program in the U.S. state of New York, we recover hedonic estimates of the property value impacts of government-acquired properties in the state's coastal counties. Both a repeat sales difference-in-differences approach and an event study addressing treatment effect heterogeneity suggest that buyouts and acquisitions have sizable negative effects on prices (−20 to −10 percent) for homes sold adjacent (≤100 m) to participating properties. The spatial scale of the impacts differs across policy types, with negative effects attenuating after 100 m for buyouts but persisting for acquisitions up to 1200 m. These impacts are shown to approach zero four years after policy initiation, and the effect of buyouts may turn positive after five years. A disaggregated county-level analysis suggests spatial heterogeneity in price impacts, with positive effects in one county where most participating properties were buyouts and negative effects in counties where most properties were acquired and redeveloped. Our findings demonstrate coastal housing market implications of different policy outcomes that can inform government action in response to increased flood risk. [ABSTRACT FROM AUTHOR]