Kolbe, Jens; Schulz, Rainer; Wersing, Martin; Werwatz, Axel - Verein für Socialpolitik - VfS - 2013
We propose a novel semiparametric method to extract location values from house prices. After splitting house prices into building and land components, location values are estimated with adaptive weight smoothing. The adaptive estimator requires neither strong smoothness assumptions nor local...