IDEAS home Printed from https://ideas.repec.org/a/bla/reesec/v12y1984i1p72-85.html
   My bibliography  Save this article

A Theoretical Basis for Hedonic Regression: A Research Primer

Author

Listed:
  • Radcliffe G. Edmonds

Abstract

The hedonic regression, estimation of an hedonic price function, is shown to be an approximation of a multifaceted consumption possibilities frontier in characteristics space. Consequently, a linear functional form is inappropriate, included characteristics must be restricted to those which pertain to the good itself, and the estimated intercept and qualitative characteristic coefficients are easily interpretable.

Suggested Citation

  • Radcliffe G. Edmonds, 1984. "A Theoretical Basis for Hedonic Regression: A Research Primer," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 12(1), pages 72-85, March.
    • Handle: RePEc:bla:reesec:v:12:y:1984:i:1:p:72-85
    DOI: 10.1111/1540-6229.00311
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/1540-6229.00311
    Download Restriction: no
    File URL: https://libkey.io/10.1111/1540-6229.00311?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Mahlon R. Straszheim, 1975. "An Econometric Analysis of the Urban Housing Market," NBER Books, National Bureau of Economic Research, Inc, number stra75-1, March.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. E.V. Leontev & I.A. Mayburov, 2021. "Assessment of the Impact of Public Transport Accessibility on the Value of Urban Residential Real Estate," Journal of Applied Economic Research, Graduate School of Economics and Management, Ural Federal University, vol. 20(1), pages 62-83.
    2. Edward Oczkowski, 1994. "A Hedonic Price Function For Australian Premium Table Wine," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 38(1), pages 93-110, April.
    3. Steffen Sebastian & R. Maurer & Martin Pitzer, 2001. "Construction of a transaction based price index for the Paris housing market," ERES eres2001_276, European Real Estate Society (ERES).
    4. Han Bin Kang & Alan K. Reichert, 1987. "An Evaluation of Alternative Estimation Techniques and Functional Forms in Developing Statistical Appraisal Models," Journal of Real Estate Research, American Real Estate Society, vol. 2(1), pages 1-29.
    5. Jerry T. Haag & Ronald C. Rutherford & Thomas A. Thomson, 2000. "Real Estate Agent Remarks: Help or Hype?," Journal of Real Estate Research, American Real Estate Society, vol. 20(1), pages 205-215.
    6. Fred A. Forgey & Ronald C. Rutherford & Michael L. VanBuskirk, 1994. "Effect of Foreclosure Status on Residential Selling Price," Journal of Real Estate Research, American Real Estate Society, vol. 9(3), pages 313-318.
    7. Mark G. Dotzour & Donald R. Levi, 1992. "The Impact of Corporate Ownership on Residential Transaction Prices," Journal of Real Estate Research, American Real Estate Society, vol. 7(2), pages 207-216.
    8. Koen Pauwels & Richard D’Aveni, 2016. "The formation, evolution and replacement of price–quality relationships," Journal of the Academy of Marketing Science, Springer, vol. 44(1), pages 46-65, January.
    9. Rakesh Paliwal & Gejo Geevarghese & P. Ram Babu & P. Khanna, 1999. "Valuation of Landmass Degradation Using Fuzzy Hedonic Method: A Case Study of National Capital Region," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 14(4), pages 519-543, December.
    10. Marcus T. Allen & Ronald C. Rutherford & Thomas M. Springer, 1997. "Reexamining the Impact of Employee Relocation Assistance on Housing Prices," Journal of Real Estate Research, American Real Estate Society, vol. 13(1), pages 67-76.
    11. Sandra Buchel & Martin Hoesli, 1995. "A Hedonic Analysis of Rent and Rental Revenue in the Subsidised and Unsubsidised Housing Sectors in Geneva," Urban Studies, Urban Studies Journal Limited, vol. 32(7), pages 1199-1213, August.
    12. Brian Y. An & Raphael W. Bostic & Andrew Jakabovics & Anthony W. Orlando & Seva Rodnyansky, 2021. "Why Are Small and Medium Multifamily Properties So Inexpensive?," The Journal of Real Estate Finance and Economics, Springer, vol. 62(3), pages 402-422, April.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ballesteros, Marife M., 2001. "The Dynamics of Housing Demand in the Philippines: Income and Lifecycle Effects," Discussion Papers DP 2001-15, Philippine Institute for Development Studies.
    2. Goldman, Fred & Grossman, Michael, 1978. "The Demand for Pediatric Care: An Hedonic Approach," Journal of Political Economy, University of Chicago Press, vol. 86(2), pages 259-280, April.
    3. Dennis W. Draper & M. Chapman Findlay, 1982. "Capital Asset Pricing and Real Estate Valuation," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 10(2), pages 152-183, June.
    4. Kopczewska, Katarzyna & Ćwiakowski, Piotr, 2021. "Spatio-temporal stability of housing submarkets. Tracking spatial location of clusters of geographically weighted regression estimates of price determinants," Land Use Policy, Elsevier, vol. 103(C).
    5. Hao Wu & Hongzan Jiao & Yang Yu & Zhigang Li & Zhenghong Peng & Lingbo Liu & Zheng Zeng, 2018. "Influence Factors and Regression Model of Urban Housing Prices Based on Internet Open Access Data," Sustainability, MDPI, vol. 10(5), pages 1-17, May.
    6. Chris Leishman & Greg Costello & Steven Rowley & Craig Watkins, 2013. "The Predictive Performance of Multilevel Models of Housing Sub-markets: A Comparative Analysis," Urban Studies, Urban Studies Journal Limited, vol. 50(6), pages 1201-1220, May.
    7. Eilers, Lea, 2016. "Spatial Dependence in Apartment Offering Prices in Hamburg," VfS Annual Conference 2016 (Augsburg): Demographic Change 145639, Verein für Socialpolitik / German Economic Association.
    8. Yong Tu & Hua Sun & Shi-Ming Yu, 2007. "Spatial Autocorrelations and Urban Housing Market Segmentation," The Journal of Real Estate Finance and Economics, Springer, vol. 34(3), pages 385-406, April.
    9. Colin Jones & Mike Coombes & Neil Dunse & David Watkins & Colin Wymer, 2012. "Tiered Housing Markets and their Relationship to Labour Market Areas," Urban Studies, Urban Studies Journal Limited, vol. 49(12), pages 2633-2650, September.
    10. David C. Wheeler & Antonio Páez & Jamie Spinney & Lance A. Waller, 2014. "A Bayesian approach to hedonic price analysis," Papers in Regional Science, Wiley Blackwell, vol. 93(3), pages 663-683, August.
    11. Nils Soguel & Marc-Jean Martin & Alexandre Tangerini, 2008. "The Impact of Housing Market Segmentation between Tourists and Residents on the Hedonic Price for Landscape Quality," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 144(IV), pages 655-678, December.
    12. Craig A Watkins, 2001. "The Definition and Identification of Housing Submarkets," Environment and Planning A, , vol. 33(12), pages 2235-2253, December.
    13. Arnab Bhattacharjee & Eduardo Castro & João Marques, 2012. "Spatial Interactions in Hedonic Pricing Models: The Urban Housing Market of Aveiro, Portugal," Spatial Economic Analysis, Taylor & Francis Journals, vol. 7(1), pages 133-167, March.
    14. Duncan Maclennan, 1977. "Some Thoughts on the Nature and Purpose of House Price Studies," Urban Studies, Urban Studies Journal Limited, vol. 14(1), pages 59-71, February.
    15. A. Thomas King, 1976. "The Demand for Housing: Integrating the Roles of Journey-to-Work, Neighborhood Quality, and Prices," NBER Chapters, in: Household Production and Consumption, pages 451-488, National Bureau of Economic Research, Inc.
    16. Levine, Jonathan C., 1990. "Employment Suburbanization and the Journey to Work," University of California Transportation Center, Working Papers qt05c8750h, University of California Transportation Center.
    17. Marvin L. Wolverton, 1998. "Empirical Investigation into the Limitations of the Normative Paired Sales Adjustment Method," Journal of Real Estate Research, American Real Estate Society, vol. 15(2), pages 191-204.
    18. Charles A. M. de Bartolome & Stephen L. Ross, 2002. "The Race to the Suburb: The Location of the Poor in a Metropolitan Area," Working papers 2002-02, University of Connecticut, Department of Economics, revised May 2008.
    19. Vladimir Bajic, 1985. "Housing‐Market Segmentation and Demand for Housing Attributes: Some Empirical Findings," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 13(1), pages 58-75, March.
    20. Evren Ozus & Vedia Dokmeci & Gulay Kiroglu & Guldehan Egdemir, 2007. "Spatial Analysis of Residential Prices in Istanbul," European Planning Studies, Taylor & Francis Journals, vol. 15(5), pages 707-721, June.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:reesec:v:12:y:1984:i:1:p:72-85. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://edirc.repec.org/data/areueea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.