Average Derivative Estimation of Hedonic Price Models

Junsoo Lee (), Seung-Jun Kwak () and John List

Environmental & Resource Economics, 2000, vol. 16, issue 1, 91 pages

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. Copyright Kluwer Academic Publishers 2000

Keywords: average derivative estimation; hedonic price models; semiparametric estimation (search for similar items in EconPapers)
Date: 2000
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1023/A:1008322200793 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:kap:enreec:v:16:y:2000:i:1:p:81-91

Ordering information: This journal article can be ordered from
http://www.springer. ... al/journal/10640/PS2

DOI: 10.1023/A:1008322200793

Access Statistics for this article

Environmental & Resource Economics is currently edited by Ian J. Bateman

More articles in Environmental & Resource Economics from Springer, European Association of Environmental and Resource Economists Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().