We estimate a hedonic model of the housing market that includes a spline surface defined on geospatial data (i.e., the longitudes and latitudes of individual dwellings). House price indexes are then obtained by imputing prices for individual dwellings from the hedonic model and then inserting them into the Fisher price index formula. Using data for Sydney, Australia we compare the performance o...

The main objective of this paper is to propose an improvement to existing methods of house price index construction by addressing three important oversights in the literature. Firstly, it is plausible that the shadow prices of property attributes evolve slowly over time, in line with the nature of consumer preferences. Existing methods either assume (explicitly or implicitly) that shadow prices...

In this note, 30,227 paintings by fifty well-known modern and contemporary Australian artists sold at auction over the period 1973-2003 are used to construct a hedonic price index. The attributes included in the hedonic regression model include the name, age and living status of the artist, the number of works sold, the size and medium of the painting, and the auction house, month and year in w...

Abstract The United States Department of Agriculture Agricultural Marketing Service (USDA AMS) began publishing formula base price information in August 2021. Considerable variation the types cattle priced via has raised questions about level transparency that can be gleaned from reports. This study employs 6 years transactions to estimate hedonic models assessing capability existing data descr...