Lie symmetry analysis of the effects of urban infrastructures on residential property values.

Due to the complexity of socio-economic-related issues, people thought of housing market as a chaotic nucleus situated at the intersection of neighboring sciences. It has been known that the dependence of house features on the residential property value can be estimated employing the well-establishe...

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Autores principales:	Chien-Wen Lin, Jen-Cheng Wang, Bo-Yan Zhong, Joe-Air Jiang, Ya-Fen Wu, Shao-Wei Leu, Tzer-En Nee
Formato:	article
Lenguaje:	EN
Publicado:	Public Library of Science (PLoS) 2021
Materias:	Medicine R Science Q
Acceso en línea:	https://doaj.org/article/7129feb1611546ecb29d48702c3b9c3e
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spelling	oai:doaj.org-article:7129feb1611546ecb29d48702c3b9c3e2021-12-02T20:15:12ZLie symmetry analysis of the effects of urban infrastructures on residential property values.1932-620310.1371/journal.pone.0255233https://doaj.org/article/7129feb1611546ecb29d48702c3b9c3e2021-01-01T00:00:00Zhttps://doi.org/10.1371/journal.pone.0255233https://doaj.org/toc/1932-6203Due to the complexity of socio-economic-related issues, people thought of housing market as a chaotic nucleus situated at the intersection of neighboring sciences. It has been known that the dependence of house features on the residential property value can be estimated employing the well-established hedonic regression analysis method in teams of location characteristic, neighborhood characteristic and structure characteristic. However, to further assess the roles of urban infrastructures in housing markets, we proposed a new kind of volatility measure for house prices utilizing the Lie symmetry analysis of quantum theory based on Schrödinger equation, mainly focusing on the effects of transportation systems and public parks on residential property values. Based on the municipal open government data regularly collected for four cities, including Boston, Milwaukee, Taipei and Tokyo, and all spatial sampling sites were featured by United States Geological Survey (USGS) National Map, transportation and park were modelled as perturbations to the quantum states generated by the feature space in response to the environmental amenities with different spatial extents. In an attempt to ascertain the intrinsic impact of the location-dependent price information obtained, the similarity functions associated with the Schrödinger equation were considered to facilitate revealing the city amenities capitalizing into house prices. By examining the spatial spillover phenomena of house prices in the four cities investigated, it was found that the mass transit systems and the public green lands possessed the infinitesimal generators of Lie point symmetries Y2 and Y5, respectively. Compared statistically with the common performance criteria, including mean absolute error (MAE), mean squared error (MSE) and, root mean squared error (RMSE) obtained by hedonic pricing model, the Lie symmetry analysis of the Schrödinger equation approach developed herein was successfully carried out. The invariant-theoretical characterizations of economics-related phenomena are consonant with the observed residential property values of the cities internationally, ultimately leading to develop a new perspective in the global financial architecture.Chien-Wen LinJen-Cheng WangBo-Yan ZhongJoe-Air JiangYa-Fen WuShao-Wei LeuTzer-En NeePublic Library of Science (PLoS)articleMedicineRScienceQENPLoS ONE, Vol 16, Iss 8, p e0255233 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	Medicine R Science Q
spellingShingle	Medicine R Science Q Chien-Wen Lin Jen-Cheng Wang Bo-Yan Zhong Joe-Air Jiang Ya-Fen Wu Shao-Wei Leu Tzer-En Nee Lie symmetry analysis of the effects of urban infrastructures on residential property values.
description	Due to the complexity of socio-economic-related issues, people thought of housing market as a chaotic nucleus situated at the intersection of neighboring sciences. It has been known that the dependence of house features on the residential property value can be estimated employing the well-established hedonic regression analysis method in teams of location characteristic, neighborhood characteristic and structure characteristic. However, to further assess the roles of urban infrastructures in housing markets, we proposed a new kind of volatility measure for house prices utilizing the Lie symmetry analysis of quantum theory based on Schrödinger equation, mainly focusing on the effects of transportation systems and public parks on residential property values. Based on the municipal open government data regularly collected for four cities, including Boston, Milwaukee, Taipei and Tokyo, and all spatial sampling sites were featured by United States Geological Survey (USGS) National Map, transportation and park were modelled as perturbations to the quantum states generated by the feature space in response to the environmental amenities with different spatial extents. In an attempt to ascertain the intrinsic impact of the location-dependent price information obtained, the similarity functions associated with the Schrödinger equation were considered to facilitate revealing the city amenities capitalizing into house prices. By examining the spatial spillover phenomena of house prices in the four cities investigated, it was found that the mass transit systems and the public green lands possessed the infinitesimal generators of Lie point symmetries Y2 and Y5, respectively. Compared statistically with the common performance criteria, including mean absolute error (MAE), mean squared error (MSE) and, root mean squared error (RMSE) obtained by hedonic pricing model, the Lie symmetry analysis of the Schrödinger equation approach developed herein was successfully carried out. The invariant-theoretical characterizations of economics-related phenomena are consonant with the observed residential property values of the cities internationally, ultimately leading to develop a new perspective in the global financial architecture.
format	article
author	Chien-Wen Lin Jen-Cheng Wang Bo-Yan Zhong Joe-Air Jiang Ya-Fen Wu Shao-Wei Leu Tzer-En Nee
author_facet	Chien-Wen Lin Jen-Cheng Wang Bo-Yan Zhong Joe-Air Jiang Ya-Fen Wu Shao-Wei Leu Tzer-En Nee
author_sort	Chien-Wen Lin
title	Lie symmetry analysis of the effects of urban infrastructures on residential property values.
title_short	Lie symmetry analysis of the effects of urban infrastructures on residential property values.
title_full	Lie symmetry analysis of the effects of urban infrastructures on residential property values.
title_fullStr	Lie symmetry analysis of the effects of urban infrastructures on residential property values.
title_full_unstemmed	Lie symmetry analysis of the effects of urban infrastructures on residential property values.
title_sort	lie symmetry analysis of the effects of urban infrastructures on residential property values.
publisher	Public Library of Science (PLoS)
publishDate	2021
url	https://doaj.org/article/7129feb1611546ecb29d48702c3b9c3e
work_keys_str_mv	AT chienwenlin liesymmetryanalysisoftheeffectsofurbaninfrastructuresonresidentialpropertyvalues AT jenchengwang liesymmetryanalysisoftheeffectsofurbaninfrastructuresonresidentialpropertyvalues AT boyanzhong liesymmetryanalysisoftheeffectsofurbaninfrastructuresonresidentialpropertyvalues AT joeairjiang liesymmetryanalysisoftheeffectsofurbaninfrastructuresonresidentialpropertyvalues AT yafenwu liesymmetryanalysisoftheeffectsofurbaninfrastructuresonresidentialpropertyvalues AT shaoweileu liesymmetryanalysisoftheeffectsofurbaninfrastructuresonresidentialpropertyvalues AT tzerennee liesymmetryanalysisoftheeffectsofurbaninfrastructuresonresidentialpropertyvalues
_version_	1718374587725512704

Lie symmetry analysis of the effects of urban infrastructures on residential property values.

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