(Universidad de los Andes, 2017) Torres Vergara, Sara Viviana; Carriazo Osorio, Fernando; 80470183; Bonilla Londoño, Jorge Alexander; Yepes Delgado, Tito Rufino
Neighborhoods' effects have recently been enriched in the focus of interest in the urban economy, especially to understand the impact that communities' behaviors have on individual's decisions. In the housing market, literature shows that tenure not only considers socioeconomic characteristics, but also urban infrastructure elements and decisions of the neighbors of the household have an impact in the decision making process of purchasing a house. However, for the informal and illegal market, literature and information are mostly limited, inaccessible and imprecise. This study uses the information from the characterization survey of the Secretaría Distrital del Hábitat. Moreover, this study identifies urban elements, socioeconomic factors and verifies through the application of the spatial econometrics, if the neighborhoods' effects impact the decision to purchase a house in the illegal market of Bogota. Estimations suggest that although socioeconomic variables have the greatest influence on household decision making, elements such as the attributes of the urban environment...
