Average Derivative Estimation of Hedonic Price Models
β Scribed by Junsoo Lee; Seung-Jun Kwak; John A. List
- Book ID
- 110262043
- Publisher
- Springer
- Year
- 2000
- Tongue
- English
- Weight
- 59 KB
- Volume
- 16
- Category
- Article
- ISSN
- 0924-6460
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π SIMILAR VOLUMES
## Abstract Rosen's (1974) theory of hedonic prices is implemented econometrically using recently developed nonparametric techniques to examine the influence of qualitative factors on the price of a house. Our ability to smooth categorical variables leads to greater generalization in the valuation
Previous work on the preferred specification of hedonic price models usually recommended a Box-Cox model. In this paper we note that any parametric model involves implicit restrictions and they can be reduced by using a semiparametric model. We estimate a benchmark parametric model which passes seve