Recovering Direct Price Effects of Environmental Amenities in Housing Markets: Regression and Causal Machine Learning Model Assessment with Empirical Monte Carlo Simulation (opens in new tab)

Hedonic price models are widely used to assess how environmental amenities affect property values, yet methodological guidance for estimating direct price effects remains sparse. We conduct an empirical Monte Carlo simulation to evaluate the performance of traditional and causal machine learning approaches for estimating the direct unmediated price effect of spatially delineated amenities on treated properties (DUET), a conservative lower-boun...