Hedonic Price Indexes for the Housing Market in Italian Cities

2008 ◽  
Author(s):  
Alessandra Michelangeli ◽  
Alberto Zanardi
Keyword(s):  
Housing Market ◽  
Hedonic Price ◽  
Price Indexes

scholarly journals Exact Hedonic Price Indexes

1995 ◽  
Vol 77 (4) ◽  
pp. 634 ◽  
Author(s):  
Robert C. Feenstra
Keyword(s):  
Hedonic Price ◽  
Price Indexes

scholarly journals A Priori Spatial Segmentation of Commercial Property Market using Hedonic Price Modelling

2021 ◽  
Vol 29 (2) ◽  
pp. 16-28
Author(s):  
Hamza Usman ◽  
Mohd Lizam ◽  
Burhaida Burhan
Keyword(s):  
Housing Market ◽  
Market Segmentation ◽  
A Priori ◽  
Model Fit ◽  
Hedonic Model ◽  
Hedonic Price ◽  
Property Market ◽  
Commercial Property ◽  
Spatial Segmentation ◽  
Property Price

Abstract The improvement of property price modelling accuracy using property market segmentation approaches is well documented in the housing market. However, that cannot be said of the commercial property market which is adjudged to be volatile, heterogeneous and thinly traded. This study, therefore, determines if the commercial property market in Malaysia is spatially segmented into submarkets and whether accounting for the submarkets improves the accuracy of price modelling. Using a 11,460 shop-offices transaction dataset, the commercial property submarkets are delineated by using submarket binary dummies in the market-wide model and estimating a separate hedonic model for each submarket. The former method improves the model fit and reduces error by 5.6% and 6.5% respectively. The commercial property submarkets are better delineated by estimating a separate hedonic model for each submarket as it improves the model fit by about 7% and reduces models’ error by more than 10%. This study concludes that the Malaysian commercial property market is spatially segmented into submarkets. Modelling the submarkets improves the accuracy and correctness of price modelling.

scholarly journals Inflation and Price Escalation Adjustments in Estimating Program Cost: F-35 Case Study

2020 ◽  
Vol 27 (92) ◽  
pp. 194-217
Author(s):  
Stanley Horowitz ◽  
Bruce Harmon
Keyword(s):  
Price Index ◽  
Hedonic Price ◽  
Cost Estimating ◽  
Program Cost ◽  
Defense Systems ◽  
Price Indexes ◽  
Acquisition Costs ◽  
Using Data ◽  
Price Escalation

Applying price indexes presents a challenge in estimating the costs of new defense systems. An inappropriate price index—one not closely linked to the inputs to the systems being costed—can introduce errors in both development of cost estimating relationships (CER) and in development of out-year budgets. To help cost analysts understand the impacts of different price indexes, this article applies two sets of price indexes to the F-35 program. Using hedonic price indexes derived from CERs, the authors isolate changes in price due to factors other than changes in quality by developing a “Baseline” CER model using data on historical tactical aircraft programs available early in the F-35 program. The focus of the work is to improve estimates of acquisition costs. All the data used in the econometric analysis are acquisition cost data. Better cost estimates should improve projections of budget requirements.

Convenient links for the estimation of hedonic price indexes: the case of unique, infrequently traded assets

2014 ◽  
Vol 68 (2) ◽  
pp. 91-117 ◽  
Author(s):  
Esmeralda A. Ramalho ◽  
Joaquim J.S. Ramalho
Keyword(s):  
Hedonic Price ◽  
Price Indexes

Hedonic Price Indexes for United Kingdom Cars

1972 ◽  
Vol 82 (327) ◽  
pp. 963 ◽  
Author(s):  
Keith Cowling ◽  
John Cubbin
Keyword(s):  
United Kingdom ◽  
Hedonic Price ◽  
Price Indexes

Neighborhood effects of housing program using Jeonse in Korea

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Sungjin Yun
Keyword(s):  
Housing Market ◽  
Public Housing ◽  
Neighborhood Effects ◽  
Negative Impact ◽  
Rental Housing ◽  
Hierarchical Linear Model ◽  
Hedonic Price ◽  
Housing Program ◽  
Content Type ◽  
Tenure System

Purpose This study aims to introduce the Youth Jeonse Rental Housing Program using the unique characteristics of the Korean housing market to explain its theoretical value in the current theoretical landscape of public housing and to identify the effect of the program on the regional housing price. Design/methodology/approach This study uses three hedonic price models on the basis of Korea’s housing market, namely, own, jeonse and rent models. Moreover, it uses the hierarchical linear model to include both house- and region-level variables. Findings Analysis shows that youth rental housing has no effect on falling prices in the region unlike long-term rental housing. Thus, the policies using regional tenure system are more effective in the social mix than existing public housing policies. Originality/value This study introduces the program using Korea’s unique tenure system called jeonse, arguing its advantages for the supplier, recipients and regional neighborhoods. Suppliers can easily provide affordable housing at a low economic and administrative cost, whereas recipients can easily mix socially, have broad housing choices and a fighting chance for a stable life. Additionally, this policy has a low negative impact on the region. Furthermore, this study theoretically presents the potential for mixed paths other than demand or supply policies. It introduces and analyzes special policy objectives for youth housing problems.

Robust hedonic price indexes

2016 ◽  
Vol 9 (1) ◽  
pp. 47-65 ◽  
Author(s):  
Steven C Bourassa ◽  
Eva Cantoni ◽  
Martin Hoesli
Keyword(s):  
House Price ◽  
Ordinary Least Squares ◽  
Robust Methods ◽  
Hedonic Price ◽  
Omitted Variables ◽  
Systematic Analysis ◽  
Content Type ◽  
Robust Techniques ◽  
Price Indexes ◽  
Hedonic Indexes

Purpose – The purpose of this paper is to demonstrate the application of robust techniques to the estimation of hedonic house price indexes. Design/methodology/approach – The authors use simulation analysis to compare an index estimated using ordinary least squares (OLS) with several indexes estimated using robust techniques. The analysis uses sales transactions data from a US city. The authors then explore how robust methods can correct for omitted variables under some circumstances and how they affect the revision problem that occurs when longitudinal hedonic indexes are updated. Findings – Robust methods can resolve missing variable problems in some circumstances and also can substantially reduce the revision problem in longitudinal hedonic indexes. Practical implications – Robust techniques may be preferable to OLS when constructing longitudinal hedonic indexes. Originality/value – This is the first paper to undertake a systematic analysis of the applicability of robust techniques in constructing hedonic house price indexes.

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