Improving Hedonic Estimation with an Inequality Restricted Estimator

1995 ◽  
Vol 77 (4) ◽  
pp. 609 ◽  
Author(s):  
Otis W. Gilley ◽  
R. Kelley Pace
Keyword(s):  
Restricted Estimator ◽  
Hedonic Estimation

scholarly journals Profile Inferences on Restricted Additive Partially Linear EV Models

2013 ◽  
Vol 2013 ◽  
pp. 1-9
Author(s):  
Xiuli Wang
Keyword(s):  
Least Squares ◽  
Asymptotic Distribution ◽  
The Other ◽  
Finite Sample ◽  
Test Statistic ◽  
Two Stage ◽  
Chi Square ◽  
Partially Linear ◽  
Profile Least Squares ◽  
Restricted Estimator

We consider the testing problem for the parameter and restricted estimator for the nonparametric component in the additive partially linear errors-in-variables (EV) models under additional restricted condition. We propose a profile Lagrange multiplier test statistic based on modified profile least-squares method and two-stage restricted estimator for the nonparametric component. We derive two important results. One is that, without requiring the undersmoothing of the nonparametric components, the proposed test statistic is proved asymptotically to be a standard chi-square distribution under the null hypothesis and a noncentral chi-square distribution under the alternative hypothesis. These results are the same as the results derived by Wei and Wang (2012) for their adjusted test statistic. But our method does not need an adjustment and is easier to implement especially for the unknown covariance of measurement error. The other is that asymptotic distribution of proposed two-stage restricted estimator of the nonparametric component is asymptotically normal and has an oracle property in the sense that, though the other component is unknown, the estimator performs well as if it was known. Some simulation studies are carried out to illustrate relevant performances with a finite sample. The asymptotic distribution of the restricted corrected-profile least-squares estimator, which has not been considered by Wei and Wang (2012), is also investigated.

scholarly journals Hedonic Estimation Applied to the Farmland Market in Georgia

1994 ◽  
Vol 26 (2) ◽  
pp. 351-366 ◽  
Author(s):  
R.L. Elad ◽  
I.D. Clifton ◽  
J.E. Epperson
Keyword(s):  
Product Differentiation ◽  
Hedonic Model ◽  
Spatial Extent ◽  
Consumptive Use ◽  
Functional Forms ◽  
Box Cox Transformation ◽  
Level Of Importance ◽  
Hedonic Estimation

AbstractFarmland offered for its productive or consumptive value may be viewed as a class of goods characteristic of product differentiation. Using the generalized Box-Cox transformation, an unrestricted hedonic model was employed to derive implicit valuations of parcel attributes. Results suggest that the significance and level of importance of attributes on land pricing depends on the spatial extent of markets in Georgia. Differences in the productive or consumptive use of farmland may imply that different factors and functional forms are appropriate to different farmland markets.

Chaos Theory and Microeconomics: An Application to Model Specification and Hedonic Estimation

1991 ◽  
Vol 73 (2) ◽  
pp. 208 ◽  
Author(s):  
Steven G. Craig ◽  
Janet E. Kohlhase ◽  
David H. Papell
Keyword(s):  
Chaos Theory ◽  
Model Specification ◽  
Hedonic Estimation

Hedonic estimation of income multipliers

2003 ◽  
Vol 21 (5) ◽  
pp. 315-336 ◽  
Author(s):  
Christian T.L. Janssen
Keyword(s):  
Hedonic Estimation

The effect of the Las Vegas Strip on hotel prices: A hedonic approach

2019 ◽  
Vol 26 (4) ◽  
pp. 622-639
Author(s):  
Stephen J Conroy ◽  
Nicholas Toma ◽  
Gregory P Gibson
Keyword(s):  
Strong Evidence ◽  
Las Vegas ◽  
Hotel Room ◽  
The Mean ◽  
The Relationship ◽  
Hedonic Approach ◽  
Hedonic Estimation

The authors investigate the effect of location on the nightly hotel room rates charged in Las Vegas. Using a hedonic estimation approach, the authors control for room amenities and hotel and time characteristics. Including 6087 hotel room nights for hotels located near the Las Vegas Strip in two different years (2012 and 2017), the authors estimate the relationship between hotel location and nightly room rates. Consistent with prior investigations, the authors find strong evidence for the effect of location, amenities, and day of week on hotel prices, with a “Strip premium” of 40.21% (US$106.85 at the mean hotel price) for hotels located within 0.25 miles of the Las Vegas Strip compared to hotels beyond 0.75 miles of the Strip. They estimate a Center-of-Strip premium of 70.23% (US$186.61 at the mean hotel price) for hotels located within 0.75 miles, 36.89% (US$98.01) for the next 0.75 miles, and 18.89% (US$50.18) for the next 0.75 miles, compared to hotels beyond 2.25 miles.

The value of remoteness: a hedonic estimation of ranchette prices

2003 ◽  
Vol 44 (1) ◽  
pp. 91-103 ◽  
Author(s):  
Sanchita Sengupta ◽  
Daniel Edward Osgood
Keyword(s):  
Hedonic Estimation
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