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Throughout the past decade American pine forests have experienced an epidemic of Mountain Pine Beetle (MPB) induced tree mortality. This thesis estimates the losses to home values caused by deteriorating forest quality in the Front Range Counties of Larimer and Boulder Colorado. We employ a repeat sales model that allows for region specific price indices, and non-linear age-related depreciation in home values. We use the time-invariant existence of pine forest near a home to overcome shortcomings in the measurement of MPB damage. We infer from temporal changes in the marginal "effect of pine trees near a home the approximate MPB "effect . We label this strategy the translating commodity approach. Using this strategy we are able to show that diminished forest quality causes forests to become a dis-amenity that negatively affects nearby home values. The total loss in 2011 home values due to their proximity to dying forest is estimated to be $137 million for all the homes in our sample. Such substantial losses may justify a forest management policy shift in order to better mitigate the risk of future MPB outbreaks. / Master of Science

Tree species migration as a result of climate change may alter the composition of trees in local communities. Shifts in tree diversity, stand age, species predominance and the overall number of trees are potential changes. Community tree programs may also change the characteristics of local trees through planting or preservation efforts, but these programs may also mitigate the effects of climate induced tree migration. Numerous hedonic property value studies have estimated the implicit price of tree amenities associated with residential properties. Quantitative analysis of the results from multiple studies valuing trees can identify if the relationship between implicit price and tree amenities extended across these studies. The results of the meta-regression found systematic variation was present across positive implicit prices for local tree cover. The scarcity, age and type of local trees were also significantly related to the implicit price of amenity tree cover. The amenity tree cover findings suggest that county tree canopy cover of about 42% optimizes implicit price. Recent extreme weather events and ownership of trees contributed to negative implicit prices. These results may assist in planning and goal setting for community tree programs to mitigate the effects of climate induced tree migration. / Master of Science

Geomantic culture, deeply rooted in China's rich traditions, stands out as one of the most captivating and mysterious aspects of the country's heritage. In thousands of years, this enigmatic blend of metaphysics and geomancy has significantly shaped the lives of the Chinese people. Its historical success in predicting and judging risks has made it a valuable tool for investors in the field of real estate. In this case, research on the influence of risks of metaphysics and geomancy becomes necessarily important to facilitate investors to own relatively feasible tools when participating in economic activities. In this dissertation, I collect property transaction data in a district of city of Beijing in China in August 2023, and examine how various geomantic characteristics affect property prices. I identify sixteen indicators of geomantic factors, among which four are variables of community characteristics (location, shape, main entrance and road), four are building characteristics (position, orientation, floor and house number), and eight are internal characteristics of residences (house type, layout, daylighting, ventilation, color scheme, five elements, door and window). Quantification of these 16 characteristic variables can be divided as quantitative quantification and qualitative quantification, and the method to quantify indicators in accordance with the actual situation is an innovative content of indicator quantification of this paper. Employing multiple linear regressions, I find that 10 out of the 16 characteristic variables, including location, shape, main entrance, road, position, orientation, floor, house number, house type, and layout, are significantly related to property prices. I also compare the strength of the effect of each geomantic characteristic variable on property prices through standardized regression. Community location of the property has the greatest influence on prices. a building's position is at the second most important factor. House number and layout seem having the least effect on property transaction prices. My research suggests that homeowners in China care about the geomantic characteristics of their property, hence are willing to pay a higher price for more favorable geomantic characteristics. This study also offers useful guidance for real estate developers how to maximize profits through improving geomantic characteristics of their property development. / Global Finance

This dissertation innovatively extends the hedonic value model by crafting a comprehensive and novel econometric framework to analyze the mediating role of financial performance in the valuation of vacation rental properties. The study not only conducts an empirical analysis of the fundamental hedonic determinants of vacation rentals’ performance and value but also examines the influence of vacation rental performance on their valuation by leveraging the capitalization rate theory, a prevalent metric for evaluating commercial real estate value, to ascertain its applicability in forecasting the worth of vacation rentals. The core contribution of this study is the discovery of how short-term rentals are assessed in Central Florida, the key factors contributing to their performance and value, and whether the current valuation methods are suited to the current market needs. The methodology is grounded in robust panel data analysis, encompassing annual performance metrics from the Central Florida market between 2014 and 2023. This approach integrates short-term rentals' extended property-level information and monthly performance databases from AirDNA with the comprehensive real estate database offered by Stellar-MLS, which includes property listing history, market sales, and property details available exclusively to licensed realtors in Central Florida. To integrate these two datasets, a location-based tool was developed using Python and Google API resources to match property addresses and calculate the total distance and driving time to main attractions in the area. Results confirmed the influence of performance on vacation rental valuation and the mediation effect of performance on the relationship between property attributes and value. The findings revealed that the valuation of vacation rentals in Central Florida is better suited to commercial-oriented real estate assessments rather than traditional residential appraisals. These transformative insights provide a robust econometric tool for better predicting the value and performance of vacation rentals, benefiting a range of stakeholders, including vacation rental owners, investors, and policymakers.

Yes / Much of the scholarly debate on the extrinsic-intrinsic motivation dichotomy to date has focused on organisational context. However, the recent upsurge of technology use amongst individuals in non-organisational context has led to consumer-focused research model such as extended unified theory of acceptance and use of technology (UTAUT2). The objective of this study is to bring back much needed focus on motivation dichotomy from the consumer perspective. This involved a systematic review and meta-analysis of hedonic motivation an affective construct in UTAUT2 studies. The findings from 79 UTAUT2 empirical studies revealed that only 46 studies (58%) utilised hedonic motivation while the remaining 33 studies (42%) omitted the construct. Extrinsic motivation was the major driver of non-hedonic and non-significant hedonic motivation studies with individuals using technologies for utilitarian outcomes. Unlike UTAUT2, moderators association of hedonic motivation were non-significant in determining consumer intention to use technology. The findings also revealed an important association between hedonic motivation and effort expectancy, in addition to fruitful directions for research and practice.