Estimating Housing Demand with an Application to Explaining Racial Segregation in Cities

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Estimating Housing Demand with an Application to Explaining Racial Segregation in Cities

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Patrick Bajari
Matthew E. Kahn

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Matthew Kahn

Abstract

August 2002

We present a three-stage estimation procedure to recover willingness to pay for housing attributes. In the first stage, we estimate a non-parametric hedonic home price function. Second, we recover each consumer’s taste parameters for product characteristics using first order conditions for utility maximization. Finally, we estimate the distribution of household tastes as a function of household demographics. As an application of our methods, we compare alternative explanations for why blacks choose to live in center cities while whites suburbanize.

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Paper provided by Stanford University, Department of Economics in its series Working Papers with number 02011.

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Date of creation: Aug 2002
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Handle: RePEc:wop:stanec:02011

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Article
- Patrick Bajari & Matthew E. Kahn, 2005. "Estimating Housing Demand With an Application to Explaining Racial Segregation in Cities," Journal of Business & Economic Statistics, American Statistical Association, vol. 23, pages 20-33, January. [Downloadable!] (restricted)
Paper
- Patrick Bajari & Matthew E. Kahn, 2003. "Estimating Housing Demand with an Application to Explaining Racial Segregation in Cities," NBER Working Papers 9891, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)

This paper has been announced in the following NEP Reports:

NEP-ALL-2002-09-28 (All new papers)
NEP-LTV-2002-09-21 (Unemployment, Inequality & Poverty)
NEP-URE-2002-09-28 (Urban & Real Estate Economics)

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

Patrick Bajari & Han Hong & Ahmed Khwaja, 2006. "Moral Hazard, Adverse Selection and Health Expenditures: A Semiparametric Analysis," NBER Working Papers 12445, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
François Ortalo-Magné & Sven Rady, 2005. "Heterogeneity within Communities: A Stochastic Model with Tenure Choice," CESifo Working Paper Series CESifo Working Paper No. , CESifo GmbH. [Downloadable!]
Other versions:
- Ortalo-Magné, François & Rady, Sven, 2005. "Heterogeneity within Communities: A Stochastic Model with Tenure Choice," Discussion Papers in Economics 594, University of Munich, Department of Economics. [Downloadable!]
- François Ortalo-Magné & Sven Rady, 2005. "Heterogeneity within Communities: A Stochastic Model with Tenure Choice," Discussion Papers 49, SFB/TR 15 Governance and the Efficiency of Economic Systems, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich. [Downloadable!]
- Sven Rady & Francois Ortalo-Magne, 2005. "Heterogeneity within Communities: A Stochastic Model with Tenure Choice," 2005 Meeting Papers 113, Society for Economic Dynamics. [Downloadable!]
Arthur Grimes & Andrew Aitken & Suzi Kerr, 2004. "House Price Efficiency: Expectations, Sales, Symmetry," Urban/Regional 0408001, EconWPA. [Downloadable!]
Lall, Somik V. & Lundberg, Mattias, 2006. "What are public services worth, and to whom ? Non-parametric estimation of capitalization in Pune," Policy Research Working Paper Series 3924, The World Bank. [Downloadable!]
John M. Clapp & Anupam Nanda & Stephen L. Ross, 2005. "Which School Attributes Matter? The Influence of School District Performance and Demographic Composition on Property Values," Working papers 2005-26, University of Connecticut, Department of Economics, revised Jan 2007. [Downloadable!]
Patrick Bayer & Fernando Ferreira & Robert McMillan, 2007. "A Unified Framework for Measuring Preferences for Schools and Neighborhoods," NBER Working Papers 13236, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
Other versions:
- Patrick Bayer & Fernando Ferreira & Robert McMillan, 2007. "A Unified Framework for Measuring Preferences for Schools and Neighborhoods," Working Papers 07-27, Center for Economic Studies, U.S. Census Bureau. [Downloadable!]
- Patrick Bayer & Fernando Ferreira & Robert McMillan, 2007. "A Unified Framework for Measuring Preferences for Schools and Neighborhoods," Journal of Political Economy, University of Chicago Press, vol. 115, pages 588-638. [Downloadable!] (restricted)
Suzi Kerr & Andrew Aitken & Arthur Grimes, 2004. "Land Taxes and Revenue Needs as Communities Grow and Decline: Evidence from New Zealand," Working Papers 04_02, Motu Economic and Public Policy Research. [Downloadable!]
Other versions:
- Suzi Kerr & Andrew Aitken & Arthur Grimes, 2004. "Land Taxes and Revenue Needs as Communities Grow and Decline: Evidence from New Zealand," Working Papers 04_01, Motu Economic and Public Policy Research. [Downloadable!]
C. Lanier Benkard & Patrick Bajari, 2004. "Demand Estimation with Heterogeneous Consumers and Unobserved Product Characteristics: A Hedonic Approach," NBER Working Papers 10278, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)

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