Leung, Charles Ka Yui (2023): Hedonic price formation.
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Abstract
This short article provides a quick summary of the hedonic pricing theory. Some new developments are also discussed.
Item Type: | MPRA Paper |
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Original Title: | Hedonic price formation |
Language: | English |
Keywords: | hedonic price, portfolio of attributes, valuation, unobservable, non-tradeable |
Subjects: | C - Mathematical and Quantitative Methods > C1 - Econometric and Statistical Methods and Methodology: General > C10 - General D - Microeconomics > D1 - Household Behavior and Family Economics > D10 - General R - Urban, Rural, Regional, Real Estate, and Transportation Economics > R2 - Household Analysis > R20 - General |
Item ID: | 119429 |
Depositing User: | Charles Ka Yui Leung |
Date Deposited: | 23 Dec 2023 08:59 |
Last Modified: | 23 Dec 2023 08:59 |
References: | Dutra Calainho, F., Van de Minne, A., and Francke, M. K. (2022). A Machine Learning Approach to Price Indices: Applications in Commercial Real Estate. Journal of Real Estate Finance and Economics. https://doi.org/10.1007/s11146-022-09893-1 Ekeland, I.; Heckman, J. J. and Nesheim, L. (2004). Identification and Estimation of Hedonic Models, Journal of Political Economy, 112(S1), 60-109. Francke, M., and van de Minne, A. (2021). Modeling unobserved heterogeneity in hedonic price models. Real Estate Economics, 49(4), 1315-1339. Hanushek, E. and Yilmaz, K., (2022). Residential location and education in the United States. Chpt 5, in C. K. Y. Leung ed., Handbook of Real Estate and Macroeconomics, Edward Elgar, Northampton, M.A., USA. Hill, R. J. (2013). Hedonic Price Indexes For Residential Housing: A Survey, Evaluation And Taxonomy, Journal of Economic Surveys, 27(5), 879-914. Liao, W.C. and Wang, X. (2012). Hedonic house prices and spatial quantile regression, Journal of Housing Economics, 21(1), 16-27. Malpezzi, S. (2003). Hedonic pricing models: a selective and applied review, In: O’Sullivan, T., Gibb, K. (eds.), Housing Economics and Public Policy. Blackwell, Malder, MA. Rosen, S. (1974). Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition, Journal of Political Economy, 82(1), 34-55. Tang, E. C. H. and Leung, C. K. Y. (2023). Can we have the cake and eat it too? The case for the Top-Floor Units as a status good and an investment, mimeo. |
URI: | https://mpra.ub.uni-muenchen.de/id/eprint/119429 |