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The price of Moscow apartments

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Author Info

  • Magnus, Jan

    ()
    (Department of Econometrics and Operations Research, Tilburg University)

  • Peresetsky, Anatoly

    ()
    (Higher School of Economics, CEMI RAS and NES, Moscow, Russia)

Abstract

We present a simple hedonic model for apartment prices in Moscow in the year 2003. Based on some 15,000 observations we estimate the model and use the estimates for prediction. Pretest issues are explicitly taken into account.

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File URL: http://pe.cemi.rssi.ru/pe_2010_1_89-105.pdf
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Bibliographic Info

Article provided by Publishing House "SINERGIA PRESS" in its journal Applied Econometrics.

Volume (Year): 17 (2010)
Issue (Month): 1 ()
Pages: 89-105

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Handle: RePEc:ris:apltrx:0001

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Web page: http://appliedeconometrics.cemi.rssi.ru/

Related research

Keywords: Hedonic prices; Moscow; pretesting;

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References

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  1. Alfons Oude Lansink & Geert Thijssen, 1998. "Testing among functional forms: an extension of the Generalized Box-Cox formulation," Applied Economics, Taylor & Francis Journals, vol. 30(8), pages 1001-1010.
  2. Jan R. Magnus & Dmitry Danilov, 2004. "Forecast accuracy after pretesting with an application to the stock market," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 23(4), pages 251-274.
  3. Witte, Ann D & Sumka, Howard J & Erekson, Homer, 1979. "An Estimate of a Structural Hedonic Price Model of the Housing Market: An Application of Rosen's Theory of Implicit Markets," Econometrica, Econometric Society, vol. 47(5), pages 1151-73, September.
  4. Danilov, Dmitry & Magnus, J.R.Jan R., 2004. "On the harm that ignoring pretesting can cause," Journal of Econometrics, Elsevier, vol. 122(1), pages 27-46, September.
  5. Kelvin J. Lancaster, 1966. "A New Approach to Consumer Theory," Journal of Political Economy, University of Chicago Press, vol. 74, pages 132.
  6. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
  7. Jan R. Magnus & J. Durbin, 1999. "Estimation of Regression Coefficients of Interest When Other Regression Coefficients Are of No Interest," Econometrica, Econometric Society, vol. 67(3), pages 639-644, May.
  8. J. Walter Milon & Jonathan Gressel & David Mulkey, 1984. "Hedonic Amenity Valuation and Functional Form Specification," Land Economics, University of Wisconsin Press, vol. 60(4), pages 378-387.
  9. Mills, Edwin S. & Simenauer, Ronald, 1996. "New Hedonic Estimates of Regional Constant Quality House Prices," Journal of Urban Economics, Elsevier, vol. 39(2), pages 209-215, March.
  10. Dmitry Danilov, 2005. "Estimation of the mean of a univariate normal distribution when the variance is not known," Econometrics Journal, Royal Economic Society, vol. 8(3), pages 277-291, December.
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Cited by:
  1. Katyshev, Pavel & Khakimova, Yulia, 2012. "Ecological factors and the price of Moscow apartments," Applied Econometrics, Publishing House "SINERGIA PRESS", vol. 28(4), pages 113-123.

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