ISSN:
1573-1502
Keywords:
average derivative estimation
;
hedonic price models
;
semiparametric estimation
Source:
Springer Online Journal Archives 1860-2000
Topics:
Energy, Environment Protection, Nuclear Power Engineering
,
Economics
Notes:
Abstract Conventional parametric techniques for estimatinghedonic price models require a correct functionalform. In this paper, we side-step this parametricshortcoming by estimating a hedonic price model usingaverage derivative estimation (ADE). Thissemiparametric approach produces robust estimates ofthe marginal effects without assuming a specificfunctional form a priori. In our application ofthe model to a unique data set on Korean home prices,ADE produced estimates consistent with priorexpectations, providing initial evidence that themodel may represent a viable alternative when usingthe hedonic approach.
Type of Medium:
Electronic Resource
URL:
http://dx.doi.org/10.1023/A:1008322200793
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