In this study, we analyse the impact of COVID-19 on house rents and prices in Warsaw, capital Poland. Hedonic indexes indicate a slight increase (ca. 1.2%) substantial drop long-term -7.7%) between March 2020 December 2020. The largest decline occurred centrally located neighbourhoods, which was largely due to inflow new housing supply from short-term rental market (the Airbnb Warsaw shrank by ...

This paper develops a new hedonic method for constructing a real estate price index that utilizes all transaction price information that encompasses both single-sale and repeat-sale properties. The new method is less prone to specification errors than standard hedonic methods and uses all available data. Like the Case-Shiller repeat-sales method, the new method has the advantage of being comput...

Using daily price data collected from a leading price comparison website, this paper empirically examines the role of vertical store differentiation on firms’ equilibrium pricing strategies in a clearinghouse model. By allowing for different quality levels across firms the theoretical model used for estimation generates asymmetric pricing strategies. Our estimates show that observable store eff...

This study investigates the efficiency of pollution permit markets by conducting an empirical study of the U.S. SO2 market. A hedonic model of coal price is estimated by using the coal price data from 1985 to 1998. The estimation results showed that the sulfur premium was in the same order as the SO2 allowance prices in the EPA auction. In addition, for 1997 and 1998, the SO2 allowance prices w...

Appraisals should assess the market value of properties and are necessary for buying, selling or building decisions, for lending and for taxation. Despite this unambiguous task different techniques exist for ascertaining market values. An valuation approach should be in accordance with economic theory and should generate appraisals, which are reliable estimates for transaction prices. This diss...

Hedonic prices are estimated for summer and winter rentals for vacation houses located near a lake and ski-golf resort in rural western Maryland. Regressions for weekly rents are conditioned on house size, quality, and recreation features including lakefront proximity and skislope access. Percentage effects and marginal implicit prices indicate that access to recreation is reflected importantly...

Abstract: Nelson (1981), Gamble and Downing (1982) and Clark et al. (1997) found no detrimental external effects of nuclear power plants when studying the distance gradient for housing prices within a hedonic model. Other papers, Clark and Nieves (1994) and Folland and Hough (1991), found significant negative effects of nuclear power when studying real asset prices in cross-sections of broad ma...

Hedonic models of housing prices face the risk omitted variable bias due to challenge controlling for all relevant property attributes. The level household financial assets is a key but underexplored control that may help account some these difficult-to-observe characteristics. Using large Australian surveys, we find reduces observed effect having solar photovoltaic panels on prices. elasticity...

Keywords: Real estate Airborne laser scanning LiDAR GIS Solar radiation Hedonic regression Generalized additive model Vienna (Austria) a b s t r a c t This paper introduces an integrative approach to hedonic house price modeling which utilizes high density 3D airborne laser scanning (ALS) data. In general, it is shown that extracting exploratory variables using 3D analysis – thus explicitly con...