In this study a function of the demand for holiday making tourism in the Canary Islands is estimated. The object is to identify the determinants of this function and quantify their impact, not only on the volume of demand (length of stay), but also on the gross income generated by tourism, given...

En este documento se presenta un índice de precios de vivienda nueva ajustado por cambios en la calidad de los inmuebles para la ciudad de Bogotá. Para ello se utilizó la base de datos de La Galería Inmobiliaria para el período 2003-2013. El indicador se construyó utilizando el modelo...

L’obiettivo principale del presente lavoro è la valutazione del contributo informativo allo studio del fenomeno del sommerso nel territorio nazionale fornito dall’integrazione di archivi amministrativi. In particolare il lavoro si basa sull’abbinamento delle imprese presenti...

El análisis de las externalidades en el sector inmobiliario ha atraído desde hace varios años la atención de los investigadores suscitando una gran cantidad de estudios al respecto. En este artículo se utilizan modelos econométricos tradicionales, de la econometría espacial y de...

The recent progress of spatial econometrics has developed a new technique called the “spatial hedonic approach,” which considers the elements of spatial autocorrelation among property values and geographically distributed attributes. The practical difficulties in applying spatial econometric...

The empirical literature on mergers, market power and collusion in differentiated markets has mainly focused on methods relying on output and/or panel data. In contrast to this literature we suggest a novel approach that allows for the detection of collusive behavior among a group of firms...

This paper uses real options theory to value an investment opportunity known as the Mediterranean-Dead Sea hydroelectric project. We employ a discrete time model to:-quantify simultaneous variation of three decision variables over the useful life of the project;-value options to: postpone the...

We study the impact of the urban location of one single public facility on spatial competition agrave; la Hotelling. If transportation costs are very low compared to the value of the public service then both firms tacitly choose the facility location without moderation of price competition, in...

We use the Adjusted Present Value (APV) method with Monte Carlo simulations for real estate valuation purposes. Monte Carlo simulations make it possible to incorporate the uncertainty of valuation parameters, in particular of future cash flows, of discount rates and of terminal values. We use...

This article provides a matrix representation of the adjustment grid estimator. From this representation, one can invoke the Gauss Markov theorem to examine the efficiency of the ordinary least squares (OLS) and the grid estimator that uses OLS estimates of the adjustments (the quot;plug-inquot;...