Semiparametric estimation of a hedonic price function

Pricing the Time and Location of a Stay at a Hotel or Apartment

“…5. Findings regarding the non-linearity of the hedonic price function are well known and well documented in the economic literature (Halvorsen and Pollakovsky, 1981;Anglin and Gençay, 1996;and Gençay and Yang, 1996, among others). In our case, a regression was performed previously where price was specified in the Box-Cox formal function, achieving a value of λ = -0.010 with which, at a 5% significance level, the null hypothesis that λ = 0 cannot be rejected; that is the suitability of the logarithmic functional form for the dependent variable.…”

Mass appraisal at the census level: Israeli case

“…As stated in Section 4.2, standard deviations of the predicted values were estimated by (3). The obtained standard deviation was NIS 16,079 on average, about 1.3 percent of the mean value presented in Table 4, showing that the proposed predictors are sufficiently stable.…”

A Study on the Impact of Unconventional (and Conventional) Drilling on Housing Prices in Central Oklahoma

“…Now, we switch to a further discussion of the drilling impact, assuming some unknown function represents the relationship between housing price and distance to the nearest well. Previous studies argue for the possibility of a nonlinear relationship between an environmental pollutant source and a housing price [20,22]. The study [12] takes this a step further and uses semiparametric estimation to provide evidence of a nonlinear relationship between shale drilling activity and property value in their study region in Pennsylvania.…”