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The hidden cost of smoking: Rent premia in the housing market

Cigdem Gedikli Orcid Logo, Robert Hill Orcid Logo, Sasha Talavera Orcid Logo, Okan Yilmaz Orcid Logo

Real Estate Economics, Volume: 51, Issue: 3

Swansea University Authors: Cigdem Gedikli Orcid Logo, Sasha Talavera Orcid Logo, Okan Yilmaz Orcid Logo

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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...

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Published in: Real Estate Economics
ISSN: 1080-8620 1540-6229
Published: Wiley 2023
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URI: https://cronfa.swan.ac.uk/Record/cronfa60149
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first_indexed 2022-06-07T15:05:52Z
last_indexed 2023-01-11T14:41:55Z
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spelling 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
author_id_fullname_str_mv 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
container_volume 51
container_issue 3
publishDate 2023
institution Swansea University
issn 1080-8620
1540-6229
doi_str_mv 10.1111/1540-6229.12399
publisher Wiley
college_str Faculty of Humanities and Social Sciences
hierarchytype
hierarchy_top_id facultyofhumanitiesandsocialsciences
hierarchy_top_title Faculty of Humanities and Social Sciences
hierarchy_parent_id facultyofhumanitiesandsocialsciences
hierarchy_parent_title Faculty of Humanities and Social Sciences
department_str School of Management - Accounting and Finance{{{_:::_}}}Faculty of Humanities and Social Sciences{{{_:::_}}}School of Management - Accounting and Finance
document_store_str 1
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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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score 11.013799

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