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Segmentation spatiale et choix de la forme fonctionnelle en modélisation hédonique

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  • Jean Dubé
  • François Des Rosiers
  • Marius Thériault

Abstract

This paper investigates the possibility of accounting for market heterogeneity within the hedonic price equation using a nested model. Using a predefined definition of submarkets, different specifications of the hedonic price equation are estimated for Quebec City, Canada. If the options considered are at least better than the classical approach given the spatial drift of hedonic prices of the residential amenities, nothing suggests that a disaggregate approach is necessarily the better modelling option. We show how the log-linear model can be improved by integrating location dummy variables capturing submarket fixed effects. Although such an approach does not solve all the problems associated with the classic hedonic pricing model, it largely lessens their detrimental impact while insuring the stability of regression coefficients related to physical amenities of properties.

Suggested Citation

  • Jean Dubé & François Des Rosiers & Marius Thériault, 2011. "Segmentation spatiale et choix de la forme fonctionnelle en modélisation hédonique," Revue d'économie régionale et urbaine, Armand Colin, vol. 0(1), pages 9-37.
  • Handle: RePEc:cai:rerarc:reru_111_0009
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    References listed on IDEAS

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    1. Christian Desmaris, 2010. "La régionalisation ferroviaire en France : une première évaluation par la méthode des comptes de surplus," Revue d'économie industrielle, De Boeck Université, vol. 0(3), pages 69-104.
    2. Kessides, Ioannis N. & Willig, Robert D., 1995. "Restructuring regulation of the rail industry for the public interest," Policy Research Working Paper Series 1506, The World Bank.
    3. Jean Bergougnoux & Luc Baumstark & Nicole Jestin-Fleury, 2000. "Services publics en réseau : perspectives de concurrence et nouvelles régulations. Rapport du groupe présidé par Jean Bergougnoux," Post-Print halshs-00181367, HAL.
    4. Laurent Guihéry, 2005. "Régionalisation ferroviaire et conventions régions-SNCF : quels enjeux et quelles perspectives ?," Post-Print halshs-00109880, HAL.
    5. Christian Desmaris, 2004. "La régionalisation ferroviaire : architecture conventionnelle et modes de gouvernance," Post-Print halshs-00283129, HAL.
    6. Bruno Faivre d'Arcier, 2002. "Les premiers pas de la régionalisation ferroviaire," Post-Print halshs-00088765, HAL.
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