Abstract:This paper investigates the impact of a major revamping of a major in inner-city shopping location, more precisely, 'Mariahilferstraße' in Vienna. This street was also a major route to the (old) city centre. This route has been closed and the whole street is now (more or less) a pedestrian area. This unique event is used to fit hedonic pricing models in order to quantify in monetary terms the effects of less accessibility, traffic and pollution. Our findings are that property prices increase due to limiting ur… Show more
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