Showing 61 - 70 of 213
Persistent link: https://www.econbiz.de/10012152235
Persistent link: https://www.econbiz.de/10012249453
Persistent link: https://www.econbiz.de/10012226654
Persistent link: https://www.econbiz.de/10012816476
Maintenance and improvements affect house values and thus the observed pecuniary return. Whether due to lack of liquidity or the presence of strategic incentives, some borrowers have a higher probability of default and this could lead to lower maintenance and investment in the property. We test...
Persistent link: https://www.econbiz.de/10012867743
Search theory shows that real property prices and marketing durations are simultaneously determined and positively related. Yet, empirical studies find positive, negative, and insignificant parameter estimates on the time-on-the-market (TOM) variable in price models. Using a dataset well suited...
Persistent link: https://www.econbiz.de/10012871653
Using the well-known Harrison and Rubinfeld (1978) hedonicpricing data, this manuscript demonstrates the substantialbenefits obtained by modeling the spatial dependence of theerrors. Specifically, the estimated errors on the spatialautogregression fell by 44% relative to OLS. The...
Persistent link: https://www.econbiz.de/10012792065
This paper provides various paradigms for the grid estimator; the most useful being a representation of the grid estimator as a combination of the nonparametric nearest neighbor estimator and a parametric estimator. Hence, the grid estimator falls into the class of semiparametric estimators. The...
Persistent link: https://www.econbiz.de/10012790933
Most hedonic pricing studies using transaction data employ only sold properties. Since the properties sold during any year or even decade represent only a fraction of all properties, this approach ignores the potentially valuable information content of unsold properties which have known...
Persistent link: https://www.econbiz.de/10012785935
Parametric estimators, such as OLS, attain high efficiency for well-specified models. Nonparametric estimators greatly reduce specification error but at the cost of efficiency. Semiparametric estimators compromise between these dual goals of efficiency and specification error. Semiparametric...
Persistent link: https://www.econbiz.de/10012775182