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Article
Nonparametric Estimation of a Hedonic Price Function
Journal of Applied Econometrics (2007)
  • christopher parmeter, University of Miami
  • Daniel J. Hnederson
Abstract

Rosen’s (1974) theory of hedonic prices is implemented econometrically using recently developed nonparametric techniques to examine the influence of qualitative factors on the price of a house. Our ability to smooth categorical variables leads to greater generalization in the valuation process and provides a canvas for interactions between categorical and continuous variables that is difficult to exploit in parametric and semiparametric models. This is illustrated with a replication of a previously used partially linear model specification.

Publication Date
2007
Citation Information
christopher parmeter and Daniel J. Hnederson. "Nonparametric Estimation of a Hedonic Price Function" Journal of Applied Econometrics Vol. 22 (2007)
Available at: http://works.bepress.com/parms/3/