Semiparametric hedonic price models: assessing the effects of agricultural nonpoint source pollution
Christophe Bontemps (),
Michel Simioni () and
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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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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)
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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)
Working Paper: Semiparametric hedonic price models: assessing the effects of agricultural nonpoint source pollution (2006)
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