Loss aversion is a widely-recognized cognitive bias that can affect house price determination. Existing empirical approaches to quantify its effects require hedonic methods to predict what prices would be in the absence of loss aversion. However, conventional methods for making this...

We present a novel approach to the estimation of hedonic imputation (HI) price indices for real estate markets using a new Mallows model averaging (MMA) estimator that is robust to spatial dependence. The spatial MMA (SMMA) method is explicitly designed to minimize the quadratic forecast loss of...