Interpolating between matching and hedonic pricing models
نویسندگان
چکیده
منابع مشابه
Boosting the Accuracy of Hedonic Pricing Models
Hedonic pricing models attempt to model a relationship between object attributes and the object’s price. Traditional hedonic pricing models are often parametric models that suffer from misspecification. In this paper we create these models by means of boosted CART models. The method is explained in detail and applied to various datasets. Empirically, we find substantial reduction of errors on o...
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Using a large sample of 46,467 residential properties spanning 1999-2005, we demonstrate using matched pairs that, relative to linear hedonic pricing models, artificial neural networks (ANN) generate significantly lower dollar pricing errors, have greater pricing precision out-of-sample, and extrapolate better from more volatile pricing environments. While a single layer ANN is functionally equ...
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The main objective of this work is to apply the hedonic pricing method using the methodology of spatial econometrics in order to assess the economic value of irrigation water, as one of the individual attributes of the value of agricultural land parcels. Most of the agricultural land’s value attributes, like neighbor characteristics as well as the availability of irrigation water, exhibit a spa...
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A model of consumer behavior has been formulated by using an additive utility function and the hedonic pricing approach, in a virtual market. Since, there is a time lag between ordering and purchasing products (goods and services) online and receiving them, it means the consumer makes decision under uncertainty. The level of satisfaction with products with distinctive characteristics is describ...
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ژورنال
عنوان ژورنال: Economic Theory
سال: 2018
ISSN: 0938-2259,1432-0479
DOI: 10.1007/s00199-018-1126-8