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Semiparametric hedonic price models: assessing the effects of agricultural nonpoint source pollution

Christophe Bontemps (), Michel Simioni () and Yves Surry
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Michel Simioni: Groupe de recherche en économie mathématique et quantitative - UT1 - Université Toulouse 1 Capitole - Université Fédérale Toulouse Midi-Pyrénées - INRA - Institut National de la Recherche Agronomique - CNRS - Centre National de la Recherche Scientifique
Yves Surry: SLU - Swedish University of Agricultural Sciences

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Abstract: In the area of environmental analysis using hedonic price models, we investigate the performance of various nonparametric and semiparametric specifications. The proposed model specifications are made up of two parts: a linear component for house characteristics and a non-(semi)parametric component representing the nonlinear influence of environmental indicators on house prices. We adopt a general-to-specific search procedure, based on recent specification tests comparing the proposed specifications with a fully nonparametric benchmark model, to select the best model specification. An application of these semiparametric models to rural districts indicates that pollution resulting from intensive livestock farming has a significant nonlinear impact on house prices.

Keywords: TEST; STATISTIQUE (search for similar items in EconPapers)
Date: 2008
Note: View the original document on HAL open archive server: https://hal.inrae.fr/hal-02661292
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Published in Journal of Applied Econometrics, Wiley, 2008, 23 (6), pp.825-842. ⟨10.1002/jae.1022⟩

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Journal Article: Semiparametric hedonic price models: assessing the effects of agricultural nonpoint source pollution (2008) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02661292

DOI: 10.1002/jae.1022

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