This paper introduces the use of non-sample, prior information to the problem of predicting prices of heterogeneous products. Using data from the 1983 American Housing Survey, the predictive performance of three Stein-like empirical Bayes estimation rules are compared to the least squares...

This paper introduces an improved procedure for estimating capital asset price indexes. We jointly estimate conventional hedonic and repeat sales models via maximum-likelihood procedures, thereby taking advantage of the unique features of the individual models and using all the data that are...