Spatial unconditional quantile regression: application to Japanese parking price data

Abstract

The present study develops a spatial unconditional quantile regression by extending Firpo et al.'s (2009) unconditional quantile regression and empirically investigates the determinants of parking prices at different quantiles of prices in Japan. The empirical results suggest that spatial competition in terms of unit price, and the unit time play important roles in determining parking prices. On the contrary, price is unaffected by demand, approximated by adopting several employment density variables and aggregated people flow data obtained from cell phones. Besides, significant differences exist among the factors that affect parking prices during the day and at night as well as among the unconditional quantiles.

Putting MARS into space. Non‐linearities and spatial effects in hedonic models

“…There are alternative approaches to the MARS algorithm that allow spatial heterogeneity in spatial econometric models, such as the mixture model (Cornwall & Parent, 2017), quantile regression (Seya et al, 2020), functional‐coefficient models (Koroglu & Sun, 2016), the penalized spline combined with spatial error model (Łaszkiewicz et al, 2022), and SAR‐(M)GWR (Geniaux & Martinetti, 2018). Each of these approaches has its own strengths and weaknesses, and the choice of method will depend on the specific research question and the characteristics of the data.…”

How heterogeneous is the impact of energy efficiency on dwelling prices? Evidence from the application of the unconditional quantile hedonic model to the Portuguese residential market

“…In fact, while the OLS conditional mean partial effects can be interpreted as unconditional (or generalizable) partial effects, through the law of iterated expectations, this equality does not hold for CQR. Some applications of the application of the UQR framework are Peeters et al (2017) and Seya et al (2020), which deal with farmland prices in Belgium and parking lot prices in Japan. Although in a stated preference context, Lang and Lanz (2021) also make use of the unconditional quantile framework to investigate whether the tenant's willingness to pay for energy efficiency improvements is homogeneous across the distribution of potential rent increases.…”