Rapid price decreases for ICT-products in the 1990s have been largely attributed to the introduction of hedonic price indexes. Would hedonic price indexing also have large effects on measured price and productivity during other technological breakthroughs? This paper investigates the impact of...

Rapid price decreases for ICT-products in the 1990s have been largely attributed to the introduction of hedonic price indexes. Would hedonic price indexing also have large effects on measured price and productivity during earlier technological breakthroughs? This paper investigates the impact of...

This paper presents a hedonic housing price model for the city of Glasgow in Scotland. The major innovation of the research is the use of hierarchical clustering techniques to identify property submarkets defined by a combination of property types, locations and socioeconomic characteristics of...

Previous work on hedonic price functions tends to have focused on one of a number of specification and estimation issues; namely, market segmentation, choice of functional form, multicollinearity or spatial autocorrelation. The purpose of this paper is to bring together these various strands to...

Recent advances in the theoretical understanding of equilibria in property markets predict that the equilibrium hedonic price function will typically be highly nonlinear. Rather than adopting progressively more flexible econometric specifications to deal with this nonlinearity we adopt an...

A frequent assumption of hedonic price estimation using property market data is that spatial autocorrelation of regression residuals is a feature of the error generating process. Under this assumption, spatial error dependence models that impose a specific spatial structure on the error...

This paper analyzes house price data belonging to three hierarchical levels of spatial units. House selling prices with associated individual attributes (the elementary level-1) are grouped within municipalities (level-2), which form districts (level-3), which are themselves nested in counties...

La cuantificación de los beneficios de cualquier política dirigida a reducir la contaminación puede hacerse de distintas maneras. Una de ellas es a través de métodos indirectos, uno de los cuales es el de la valuación hedónica. La idea básica es que en el precio de los inmuebles se...