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Comment: Semiparametric Estimates of the Marginal Price of Floorspace

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  • Colwell, Peter F

Abstract

Theory indicates that the marginal price of floor space must decline with increasing floor space in the context of a hedonic model. The industry offer curves, their lower envelope, and the hedonic function must be concave because some elements of structure, notable exterior walls, increase at a slower rate than does floor space. Coulson's finding to the contrary is probable attributable to an omitted variable problem. Copyright 1993 by Kluwer Academic Publishers

Suggested Citation

  • Colwell, Peter F, 1993. "Comment: Semiparametric Estimates of the Marginal Price of Floorspace," The Journal of Real Estate Finance and Economics, Springer, vol. 7(1), pages 73-75, July.
    • Handle: RePEc:kap:jrefec:v:7:y:1993:i:1:p:73-75
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    Cited by:

    1. Gaetano Lisi, 2013. "On the Functional Form of the Hedonic Price Function: A Matching-theoretic Model and Empirical Evidence," International Real Estate Review, Global Social Science Institute, vol. 16(2), pages 189-207.
    2. Rickard Enström & Olof Netzell, 2008. "Can Space Syntax Help Us in Understanding the Intraurban Office Rent Pattern? Accessibility and Rents in Downtown Stockholm," The Journal of Real Estate Finance and Economics, Springer, vol. 36(3), pages 289-305, April.
    3. Evangelista, Rui & Ramalho, Esmeralda A. & Andrade e Silva, João, 2020. "On the use of hedonic regression models to measure the effect of energy efficiency on residential property transaction prices: Evidence for Portugal and selected data issues," Energy Economics, Elsevier, vol. 86(C).
    4. Cutter, W. Bowman & Franco, Sofia F., 2012. "Do parking requirements significantly increase the area dedicated to parking? A test of the effect of parking requirements values in Los Angeles County," Transportation Research Part A: Policy and Practice, Elsevier, vol. 46(6), pages 901-925.
    5. Rui Evangelista & Esmeralda A. Ramalho & João Andrade e Silva, 2019. "On the use of Hedonic Regression Models to Measure the Effect of Energy Efficiency on Residential Property Transaction Prices: Evidence for Portugal and Selected Data Issues," Working Papers REM 2019/64, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.

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