GIS-Aided Benefit Evaluation System for Urban Railway Improvements : Focusing on the Hedonic Approach

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  • GIS-aided benefit evaluation system for urban railway improvements: focusing on hedonic approach

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Abstract

This study specially focuses on the hedonic approach to evaluate the benefits of urban railway improvements. In the GIS environment, the information for the hedonic approach can be efficiently collected and generated. A unique conditions unit that is useful to statistical analysis can be easily generated by the overlay function. The benefits can be estimated in real locations undertaking improvement gains. With such advantages, "GIS-Aided Benefit Evaluation System" has been developed as a flexible and useful tool for supporting the hedonic approach in this study. As mathematical methodologies for the hedonic approach, the Box-Cox functional form that avoids prior restrictions is adopted to determine the best hedonic land price function. The general inverse matrix is also used to cope with multi-collinearity associated with the hedonic price function. The potentiality of the proposed system for practical application has been verified by application to the Joban New Line.

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