Estimating Housing Demand with an Application to Explaining Racial Segregation in Cities

Patrick Bajari and Matthew Kahn

Working Papers from Stanford University, Department of Economics

Abstract: August 2002

We present a three-stage estimation procedure to recover willingness to pay for housing attributes. In the first stage, we estimate a non-parametric hedonic home price function. Second, we recover each consumer’s taste parameters for product characteristics using first order conditions for utility maximization. Finally, we estimate the distribution of household tastes as a function of household demographics. As an application of our methods, we compare alternative explanations for why blacks choose to live in center cities while whites suburbanize.

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Date: 2002-08
New Economics Papers: this item is included in nep-ltv and nep-ure
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Related works:
Journal Article: Estimating Housing Demand With an Application to Explaining Racial Segregation in Cities (2005)
Working Paper: Estimating Housing Demand with an Application to Explaining Racial Segregation in Cities (2003)
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