Much of the housing submarket literature has focused on establishing methods that allow the partitioning of data into distinct market segments. This paper seeks to move the focus on to the question of how best to model submarkets once they have been identified. It focuses on evaluating effectiveness of multi-level models as a technique for modelling submarkets. The paper uses data on housing transactions from Perth, Western Australia, to develop and compare three competing submarket modelling strategies. Model one consists of a citywide "benchmark", model two provides a series of submarket-specific hedonic estimates (this is the 'industry standard') and models three and four provide two variants on the multi-level model (differentiated by variation in the degrees of spatial granularity embedded in the model structure). The results suggest that greater granularity enhances performance, although improvements in predictive accuracy will not necessarily offer compelling grounds for the adoption of the multi-level approach.
This paper argues that understanding of the performance and price structure of urban housing markets in the UK would be enhanced by limited investment in comprehensive systems for collecting data on housing transactions. These data would allow the construction of reliable and accurate indices at different levels of spatial aggregation. The empirical part of the paper uses data from the Western Australian Valuer General's Office to illustrate the data requirements and practical considerations in the construction of indices. The dataset provides comprehensive information on property attributes and the sales history of individual transactions and allows a comparison of the accuracy of a number of variants on the hedonic and repeat-sales index methods. The evidence suggests repeat-sales indices can be constructed on less detaileddata with little loss of accuracy. The paper concludes by suggesting that repeat-sales methods, although largely ignored in the UK to date, lend themselves well to the development of a system of local price indices using the information recorded by the Land Registry.
IntroductionIn the spirit of enacting an educational model of guided, collective reflection to support positive professional identity construction in healthcare learners, we implemented a reflection-based course for medical students transitioning to clerkship with three goals: to sensitize learners to the hidden curriculum; to provide a safe and confidential forum to discuss their experiences; and to co-construct strategies to deal with the pressures in the clinical environmentMethodsWe used a design-based research protocol. Twelve students participated in ten sessions starting during their transition to clerkship. Faculty debriefed after each session, adjusting the format of the subsequent sessions. Data included student logs, transcripts of the course sessions, faculty debriefings, and the course evaluation. Data were analyzed via an iterative process of independent coding and discussion.ResultsThe main adjustments to the course were to eliminate didactic content in favour of using prompts prior to course sessions and de-emphasizing written reflection. Participants felt the course achieved its three goals and students reported enhanced resiliency during transition to clerkship, although, despite prompting, students offered no examples of their joining in with the negative behaviours around them.ConclusionsThe course was successful in its key objectives. However, a key aspect of reflection, students noticing their own behaviour in the moment as something that needs to be reflected on, was challenging. Future research exploring the value of reflection as an intervention to redress the unwanted aspects of the hidden curriculum might focus on efforts to move the students to explicitly explore the enculturation process in themselves.
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