On nonparametric estimation of a hedonic price function

Harry Haupt, Joachim Schnurbus and Rolf Tschernig ()
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Harry Haupt: Department of Business Administration and Economics, Bielefeld University, Centre for Statistics, Department of Bielefeld, Germany, Postal: Department of Business Administration and Economics, Bielefeld University, Centre for Statistics, Department of Bielefeld, Germany
Joachim Schnurbus: University of Regensburg, Regensburg, Germany, Postal: University of Regensburg, Regensburg, Germany

Journal of Applied Econometrics, 2010, vol. 25, issue 5, 894-901

Abstract: Recently, using mixed data on Canadian housing, Parmeter, Henderson, and Kumbhakar (Journal of Applied Econometrics 2007; 22: 695-699) found that a nonparametric approach for estimating a hedonic house price function is superior to formerly suggested parametric and semiparametric specifications. We carefully reanalyze these specifications for this dataset by applying a recent nonparametric specification test and simulation-based prediction comparisons. For the case at issue our results suggest that a previously proposed parametric specification does not have to be rejected and we illustrate how nonparametric methods provide valuable insights during all modeling steps. Copyright © 2010 John Wiley & Sons, Ltd.

Date: 2010
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Citations: View citations in EconPapers (18)

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Related works:
Working Paper: On Nonparametric Estimation of a Hedonic Price Function (2008)
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DOI: 10.1002/jae.1186

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