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Semiparametric Estimates of the marginal price of floorspace

✍ Scribed by N. Edward Coulson

Book ID
104645516
Publisher
Springer US
Year
1992
Tongue
English
Weight
554 KB
Volume
5
Category
Article
ISSN
0895-5638

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✦ Synopsis

Smoothing splines are used to generate a nonparametric response of housing price to floorspace size. A rising marginal price is estimated. Comparison to common parametric forms indicates that the semilog is reasonably close to the nonparametric form.

πŸ“œ SIMILAR VOLUMES

Semiparametric estimation of a hedonic p
Semiparametric estimation of a hedonic price function
✍ Paul M. Anglin; Ramazan GenΓ§ay πŸ“‚ Article πŸ“… 1996 πŸ› John Wiley and Sons 🌐 English βš– 909 KB

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