Three theoretical benchmark models of diffusion of new technologies are the substitution, mortality and social-learning models. These models tend to generate symmetric, right-skewed and left-skewed S-curves respectively. The empirical literature has focused primarily on fitting either Logistic...

Disequilibrium in the housing market can be detected by comparing the actual price-rent ratio with its equilibrium counterpart obtained from the user-cost condition. Empirical implementation of this idea, however, is problematic because of quality differences between sold and rented dwellings....

The increasing availability of geospatial data (i.e., exact longitudes and latitudes for each house) has the potential to improve the quality of house price indexes. It is not clear though how best to use this information. We show how geospatial data can be included as a nonparametric spline...