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A Theoretical Basis for Hedonic Regression: A Research Primer

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  • 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. Copyright American Real Estate and Urban Economics Association.

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.
  • Handle: RePEc:bla:reesec:v:12:y:1984:i:1:p:72-85
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    Cited by:

    1. 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.
    2. 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.
    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.

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