The interaction between rail transit and the urban property market is a vital foundation for planning transit-based policy such as Value Capture and Transit Oriented Development (TOD). Yet only few studies have reported the impact of transit access on commercial property value. This paper presents ...
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For aggregated sub-indices, such as the property type index, although there exists some k > 0 for which βk is better than βols, the improvements are barely noticeable. Appendix Chart 1 shows two cases of ridge results. Apparently, ridge estimator improves regional retail index but makes no...
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