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- Title
Homebuilders Choice Behaviour Analysis.
- Authors
Mohammadian, Abolfazl; Haider, Murtaza; Kanaroglou, Pavlos S.
- Abstract
Research in housing supply is scarce. Even scarcer is the research on the location and housing-type choices of homebuilders. The academic literature is almost silent on the questions of what influences the location and housing type choices of homebuilders. Similarly, a small body of literature has addressed spatial autocorrelation in discrete choice models. The spatial homogeneity depicted by the typical cookie-cutter architecture of urban and suburban dwellings suggests the presence of spatial autocorrelation. However, empirical studies of the determinants of homebuilders' product type choices have completely ignored the presence of spatial correlation. This paper presents the derivation and development of a random parameter discrete choice model that accounts for spatial correlation in choice behaviour. A mixed spatial multinomial logit model is formulated that incorporates spatial dependencies to predict housing-type choices of new homebuilders. The results of the model suggest that housing-type choice of a homebuilder is influenced by other projects in adjacent zones, resulting in a spatially correlated choice behaviour. Heterogeneity effects were also found to be important in this model. The mixed spatial multinomial logit model offers a substantial improvement, in terms of model fit, over the multinomial logit and standard spatial logit models.
- Subjects
CANADA; DOMESTIC architecture; HOUSING; DWELLING design &; construction; LOGITS
- Publication
Canadian Journal of Regional Science / Revue Canadienne des Sciences Régionales, 2008, Vol 31, Issue 2, p225
- ISSN
0705-4580
- Publication type
Article