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This study estimates the capitalization effect of golf courses in Maricopa County using the hedonic pricing method. It draws upon a dataset of 574,989 residential transactions from 2000 to 2006 to examine how the aesthetic, non-golf benefits of golf courses capitalize across a gradient of proximity measures. The measures for

This study estimates the capitalization effect of golf courses in Maricopa County using the hedonic pricing method. It draws upon a dataset of 574,989 residential transactions from 2000 to 2006 to examine how the aesthetic, non-golf benefits of golf courses capitalize across a gradient of proximity measures. The measures for amenity value extend beyond home adjacency and include considerations for homes within a range of discrete walkability buffers of golf courses. The models also distinguish between public and private golf courses as a proxy for the level of golf course access perceived by non-golfers. Unobserved spatial characteristics of the neighborhoods around golf courses are controlled for by increasing the extent of spatial fixed effects from city, to census tract, and finally to 2000 meter golf course ‘neighborhoods.’ The estimation results support two primary conclusions. First, golf course proximity is found to be highly valued for adjacent homes and homes up to 50 meters way from a course, still evident but minimal between 50 and 150 meters, and insignificant at all other distance ranges. Second, private golf courses do not command a higher proximity premia compared to public courses with the exception of homes within 25 to 50 meters of a course, indicating that the non-golf benefits of courses capitalize similarly, regardless of course type. The results of this study motivate further investigation into golf course features that signal access or add value to homes in the range of capitalization, particularly for near-adjacent homes between 50 and 150 meters thought previously not to capitalize.
ContributorsJoiner, Emily (Author) / Abbott, Joshua (Thesis director) / Smith, Kerry (Committee member) / Economics Program in CLAS (Contributor) / School of Sustainability (Contributor) / School of Mathematical and Statistical Sciences (Contributor) / Barrett, The Honors College (Contributor)
Created2018-05
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Description
Yearly changes in the consumer price index are used to adjust social security benefits in order to keep the purchasing power of social security beneficiaries the same. Currently, social security benefits are adjusted using a fixed-weighted price index that reflects the purchasing patterns of workers. However, some believe that a

Yearly changes in the consumer price index are used to adjust social security benefits in order to keep the purchasing power of social security beneficiaries the same. Currently, social security benefits are adjusted using a fixed-weighted price index that reflects the purchasing patterns of workers. However, some believe that a price index that captures the spending habits of the elderly should adjust monthly social security benefits, while others argue that a chain-weighted price index is a more accurate indexation technique. This report finds that if an elderly or chain-weighted price index were implemented this year, there would not be a significant change in the projected insolvency of the social security trust fund, but there could be a substantial decrease in the social security trust fund's yearly cash-flow deficit. Therefore, changing the indexation of social security benefits should not be seen as a short-term solvency fix. Instead, adjusting monthly social security benefits should be about keeping the purchasing power of beneficiaries relatively the same.
ContributorsScobas, Peter Jonathan (Author) / Hobijn, Bart (Thesis director) / Smith, Kerry (Committee member) / Economics Program in CLAS (Contributor) / School of Sustainability (Contributor) / School of Mathematical and Statistical Sciences (Contributor) / Barrett, The Honors College (Contributor)
Created2017-05
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Description
Protest has been both a practice of citizenship rights as well as a means of social pressure for change in the context of Mexico City's water system. This paper explores the role that citizen protest plays in the city's response to its water challenges. We use media reports of water

Protest has been both a practice of citizenship rights as well as a means of social pressure for change in the context of Mexico City's water system. This paper explores the role that citizen protest plays in the city's response to its water challenges. We use media reports of water protests to examine where protests happen and the causes associated with them. We analyze this information to illuminate socio-political issues associated with the city's water problems, such as political corruption, gentrification, as well as general power dynamics and lack of transparency between citizens, governments, and the private businesses which interact with them. We use text analysis of newspaper reports to analyze protest events in terms of the primary stimuli of water conflict, the areas within the city more prone to conflict, and the ways in which conflict and protest are used to initiate improved water management and to influence decision making to address water inequities. We found that water scarcity is the primary source of conflict, and that water scarcity is tied to new housing and commercial construction. These new constructions often disrupt water supplies and displace of minority or marginalized groups, which we denote as gentrification. The project demonstrates the intimate ties between inequities in housing and water in urban development. Key words: Conflict, protest, Mexico City, scarcity, new construction
ContributorsFlores, Shalae Alena (Author) / Eakin, Hallie C. (Thesis director) / Baeza-Castro, Andres (Committee member) / Lara-Valencia, Francisco (Committee member) / School of Geographical Sciences and Urban Planning (Contributor) / Barrett, The Honors College (Contributor)
Created2017-05