IDEAS home Printed from https://ideas.repec.org/a/eme/jpifpp/jpif-12-2020-0138.html
   My bibliography  Save this article

Education Briefing Property valuation: the hedonic pricing model: the application of search-and-matching models

Author

Listed:
  • Gaetano Lisi

Abstract

Purpose - The aim of this education briefing is to comment upon how basic hedonic pricing models for the valuation of property can be expanded and developed. In this case, the briefing illustrates the use of the new economic approach to the analysis of housing markets, namely the search-and-matching models. Design/methodology/approach - This education briefing discusses the connection of two important economic theories: the hedonic price theory and the search-and-matching theory. Findings - This education briefing gives an example of a (non-linear) form of the hedonic price function. Practical implications - In cases of mass appraisals, hedonic pricing models can provide a broad indication of value across submarkets and this education briefing demonstrates a theoretical model that can be used to provide a theoretical groundwork for the use of a concave hedonic price function in empirical estimates. Originality/value - This education briefing shows how basic hedonic pricing models can be enhanced by a search-and-matching approach to determine property values.

Suggested Citation

  • Gaetano Lisi, 2021. "Education Briefing Property valuation: the hedonic pricing model: the application of search-and-matching models," Journal of Property Investment & Finance, Emerald Group Publishing Limited, vol. 40(1), pages 99-107, January.
    • Handle: RePEc:eme:jpifpp:jpif-12-2020-0138
    DOI: 10.1108/JPIF-12-2020-0138
    as

    Download full text from publisher

    File URL: https://www.emerald.com/insight/content/doi/10.1108/JPIF-12-2020-0138/full/html?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://www.emerald.com/insight/content/doi/10.1108/JPIF-12-2020-0138/full/pdf?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://libkey.io/10.1108/JPIF-12-2020-0138?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eme:jpifpp:jpif-12-2020-0138. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Emerald Support (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.