Title

Average derivative estimation of hedonic price models

Authors

Authors

J. Lee; S. J. Kwak;J. A. List

Comments

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Abbreviated Journal Title

Environ. Resour. Econ.

Keywords

average derivative estimation; hedonic price models; semiparametric; estimation; FUNCTIONAL FORM; CHOICE; EQUATIONS; MARKETS; Economics; Environmental Studies

Abstract

Conventional parametric techniques for estimating hedonic price models require a correct functional form. In this paper, we side-step this parametric shortcoming by estimating a hedonic price model using average derivative estimation (ADE). This semiparametric approach produces robust estimates of the marginal effects without assuming a specific functional form a priori. In our application of the model to a unique data set on Korean home prices, ADE produced estimates consistent with prior expectations, providing initial evidence that the model may represent a viable alternative when using the hedonic approach.

Journal Title

Environmental & Resource Economics

Volume

16

Issue/Number

1

Publication Date

1-1-2000

Document Type

Article

DOI Link

http://dx.doi.org/10.1023/a:1008322200793

Language

English

First Page

81

Last Page

91

WOS Identifier

WOS:000086322300006

ISSN

0924-6460

Recommended Citation

"Average derivative estimation of hedonic price models" (2000). Faculty Bibliography 2000s. 2666.
https://stars.library.ucf.edu/facultybib2000/2666