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The hidden cost of smoking: Rent premia in the housing market
Real Estate Economics, Volume: 51, Issue: 3
Swansea University Authors: Cigdem Gedikli , Sasha Talavera , Okan Yilmaz
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DOI (Published version): 10.1111/1540-6229.12399
Abstract
In this paper, we provide novel evidence on the additional costs associated with smoking. While it may not be surprising that smokers pay a rent premium, we are the first to quantify the size of this premium. Our approach is innovative in that we use text mining methods that extract implicit informa...
Published in: | Real Estate Economics |
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ISSN: | 1080-8620 1540-6229 |
Published: |
Wiley
2023
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URI: | https://cronfa.swan.ac.uk/Record/cronfa60149 |
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v2 60149 2022-06-07 The hidden cost of smoking: Rent premia in the housing market c83614936b5df640b1409eda0676aa44 0000-0002-0055-6397 Cigdem Gedikli Cigdem Gedikli true false c33f8979a1b19d178652b3c848176829 0000-0002-4799-778X Sasha Talavera Sasha Talavera true false bb42de9bf10d32bda4695327b3aa0470 0000-0002-0553-8518 Okan Yilmaz Okan Yilmaz true false 2022-06-07 BAF In this paper, we provide novel evidence on the additional costs associated with smoking. While it may not be surprising that smokers pay a rent premium, we are the first to quantify the size of this premium. Our approach is innovative in that we use text mining methods that extract implicit information on landlords’ attitudes to smoking directly from Zoopla UK rental listings. Applying hedonic, matching and machine-learning methods to the text-mined data, we find a positive smoking rent premium of around 6 percent. This translates into £14.40 of indirect costs, in addition to £40 of weekly spending on cigarettes estimated for an average smoker in the UK. Journal Article Real Estate Economics 51 3 Wiley 1080-8620 1540-6229 contracting frictions, hedonic regression, matching, random for-est, rental market, smoking, smoking rent premium, text mining 7 5 2023 2023-05-07 10.1111/1540-6229.12399 COLLEGE NANME Accounting and Finance COLLEGE CODE BAF Swansea University Not Required None 2023-12-11T09:30:32.2527355 2022-06-07T15:54:57.3608830 Faculty of Humanities and Social Sciences School of Management - Accounting and Finance Cigdem Gedikli 0000-0002-0055-6397 1 Robert Hill 0000-0002-7483-9701 2 Sasha Talavera 0000-0002-4799-778X 3 Okan Yilmaz 0000-0002-0553-8518 4 60149__24406__a5129039a41d462ab806898cf7a10203.pdf VoR.pdf 2022-06-28T15:03:08.8993173 Output 278992 application/pdf Version of Record true © 2022 The Authors. This is an open access article under the terms of the Creative Commons Attribution License true eng http://creativecommons.org/licenses/by/4.0/ |
title |
The hidden cost of smoking: Rent premia in the housing market |
spellingShingle |
The hidden cost of smoking: Rent premia in the housing market Cigdem Gedikli Sasha Talavera Okan Yilmaz |
title_short |
The hidden cost of smoking: Rent premia in the housing market |
title_full |
The hidden cost of smoking: Rent premia in the housing market |
title_fullStr |
The hidden cost of smoking: Rent premia in the housing market |
title_full_unstemmed |
The hidden cost of smoking: Rent premia in the housing market |
title_sort |
The hidden cost of smoking: Rent premia in the housing market |
author_id_str_mv |
c83614936b5df640b1409eda0676aa44 c33f8979a1b19d178652b3c848176829 bb42de9bf10d32bda4695327b3aa0470 |
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c83614936b5df640b1409eda0676aa44_***_Cigdem Gedikli c33f8979a1b19d178652b3c848176829_***_Sasha Talavera bb42de9bf10d32bda4695327b3aa0470_***_Okan Yilmaz |
author |
Cigdem Gedikli Sasha Talavera Okan Yilmaz |
author2 |
Cigdem Gedikli Robert Hill Sasha Talavera Okan Yilmaz |
format |
Journal article |
container_title |
Real Estate Economics |
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51 |
container_issue |
3 |
publishDate |
2023 |
institution |
Swansea University |
issn |
1080-8620 1540-6229 |
doi_str_mv |
10.1111/1540-6229.12399 |
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Wiley |
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Faculty of Humanities and Social Sciences |
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description |
In this paper, we provide novel evidence on the additional costs associated with smoking. While it may not be surprising that smokers pay a rent premium, we are the first to quantify the size of this premium. Our approach is innovative in that we use text mining methods that extract implicit information on landlords’ attitudes to smoking directly from Zoopla UK rental listings. Applying hedonic, matching and machine-learning methods to the text-mined data, we find a positive smoking rent premium of around 6 percent. This translates into £14.40 of indirect costs, in addition to £40 of weekly spending on cigarettes estimated for an average smoker in the UK. |
published_date |
2023-05-07T09:30:33Z |
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1784977328171909120 |
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11.028048 |