## 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
Hedonic price function estimation in economics and
β Scribed by Ruben Chumpitaz; Kristiaan Kerstens; Nicholas Paparoidamis; Matthias Staat
- Publisher
- Springer US
- Year
- 2008
- Tongue
- English
- Weight
- 550 KB
- Volume
- 173
- Category
- Article
- ISSN
- 0254-5330
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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
## Abstract Recently, using mixed data on Canadian housing, Parmeter, Henderson, and Kumbhakar (__Journal of Applied Econometrics__ 2007; **22**: 695β699) found that a nonparametric approach for estimating a hedonic house price function is superior to formerly suggested parametric and semiparametri
presented an investigation of selectivity bias in hedonic price functions estimated from sold subsamples. The empirical findings were sensitive to the degree of skewness allowed by the choice of offer distribution. With the generalized model presented in this paper, the degree of skewness present in