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<p>This paper investigates the impact of auto ownership rationing on preferences for subway proximity of residents in Shenzhen, China. Using the second-hand housing transaction data, we estimate the treatment effect curve of the policy shock as a function of subway proximity, based on a semi-parametric difference-in-difference framework. By imposing more structure on households preferences, we are also able to recover change in households’ willingness to pay for subway proximity from the estimated treatment effect curve, ruling out the confounding effect of households’ re-sorting.</p>

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Auto ownership rationing and willingness to pay for subway proximity: a hedonic analysis

  • 期刊论文

  • 发表日期：

    2026年1月10日

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  • Tianyun Zhu,
  • Hui Luo

摘要

This paper investigates the impact of auto ownership rationing on preferences for subway proximity of residents in Shenzhen, China. Using the second-hand housing transaction data, we estimate the treatment effect curve of the policy shock as a function of subway proximity, based on a semi-parametric difference-in-difference framework. By imposing more structure on households preferences, we are also able to recover change in households’ willingness to pay for subway proximity from the estimated treatment effect curve, ruling out the confounding effect of households’ re-sorting.