This paper considers the identification and estimation of a spatial hedonic price model including the variable distance between the local properties and the nearest station of the massive transportation system Transmilenio (TM) in Bogotá, Colombia. We estimate a model to explain variations in...

We highlight the importance of ‘centrality' for pricing. Firms characterized by a more central position in a spatial network are more powerful in terms of having a stronger impact on their competitors' prices and on equilibrium prices. These propositions are derived froma simple theoretical...