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Heterogeneity in hedonic modelling of house prices: looking at buyers’ household profiles

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  • Yan Kestens
  • Marius Thériault
  • François Des Rosiers

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  • Yan Kestens & Marius Thériault & François Des Rosiers, 2006. "Heterogeneity in hedonic modelling of house prices: looking at buyers’ household profiles," Journal of Geographical Systems, Springer, vol. 8(1), pages 61-96, March.
    • Handle: RePEc:kap:jgeosy:v:8:y:2006:i:1:p:61-96
    DOI: 10.1007/s10109-005-0011-8
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    1. Kanbur, Ravi & Venables, Anthony J. (ed.), 2005. "Spatial Inequality and Development," OUP Catalogue, Oxford University Press, number 9780199278633, Decembrie.
    2. Goodman, Allen C. & Thibodeau, Thomas G., 2003. "Housing market segmentation and hedonic prediction accuracy," Journal of Housing Economics, Elsevier, vol. 12(3), pages 181-201, September.
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    4. Goodman, Allen C. & Thibodeau, Thomas G., 1998. "Housing Market Segmentation," Journal of Housing Economics, Elsevier, vol. 7(2), pages 121-143, June.
    5. J. R. Knight & Jonathan Dombrow & C. F. Sirmans, 1995. "A Varying Parameters Approach to Constructing House Price Indexes," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 23(2), pages 187-205, June.
    6. Geoghegan, Jacqueline & Wainger, Lisa A. & Bockstael, Nancy E., 1997. "Spatial landscape indices in a hedonic framework: an ecological economics analysis using GIS," Ecological Economics, Elsevier, vol. 23(3), pages 251-264, December.
    7. Yee Leung & Chang-Lin Mei & Wen-Xiu Zhang, 2000. "Statistical Tests for Spatial Nonstationarity Based on the Geographically Weighted Regression Model," Environment and Planning A, , vol. 32(1), pages 9-32, January.
    8. Bettina Aten & Alan W. Heston, 2003. "Regional Output Differences in International Perspective," WIDER Working Paper Series DP2003-55, World Institute for Development Economic Research (UNU-WIDER).
    9. Clifford M. Hurvich & Jeffrey S. Simonoff & Chih‐Ling Tsai, 1998. "Smoothing parameter selection in nonparametric regression using an improved Akaike information criterion," Journal of the Royal Statistical Society Series B, Royal Statistical Society, vol. 60(2), pages 271-293.
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    Cited by:

    1. Kim, Jinwon & Jang, Seongsoo & Kang, Sanghoon & Kim, SeungHyun (James), 2020. "Why are hotel room prices different? Exploring spatially varying relationships between room price and hotel attributes," Journal of Business Research, Elsevier, vol. 107(C), pages 118-129.
    2. Zolnik, Edmund, 2021. "Geographically weighted regression models of residential property transactions: Walkability and value uplift," Journal of Transport Geography, Elsevier, vol. 92(C).
    3. Qingyun Du & Chao Wu & Xinyue Ye & Fu Ren & Yongjun Lin, 2018. "Evaluating the Effects of Landscape on Housing Prices in Urban China," Tijdschrift voor Economische en Sociale Geografie, Royal Dutch Geographical Society KNAG, vol. 109(4), pages 525-541, September.
    4. Kamar Ali & Mark D. Partridge & M. Rose Olfert, 2007. "Can Geographically Weighted Regressions Improve Regional Analysis and Policy Making?," International Regional Science Review, , vol. 30(3), pages 300-329, July.
    5. Steegmans, Joep & Hassink, Wolter, 2017. "Financial position and house price determination: An empirical study of income and wealth effects," Journal of Housing Economics, Elsevier, vol. 36(C), pages 8-24.
    6. Lavaine, Emmanuelle, 2019. "Environmental risk and differentiated housing values: Evidence from the north of France," Journal of Housing Economics, Elsevier, vol. 44(C), pages 74-87.
    7. Gollini, Isabella & Lu, Binbin & Charlton, Martin & Brunsdon, Christopher & Harris, Paul, 2015. "GWmodel: An R Package for Exploring Spatial Heterogeneity Using Geographically Weighted Models," Journal of Statistical Software, Foundation for Open Access Statistics, vol. 63(i17).
    8. Ashley Isaac Naimi & Catherine Paquet & Lise Gauvin & Mark Daniel, 2009. "Associations between Area-Level Unemployment, Body Mass Index, and Risk Factors for Cardiovascular Disease in an Urban Area," IJERPH, MDPI, vol. 6(12), pages 1-15, December.
    9. Thomas M. Fullerton & Arturo Bujanda, 2018. "Commercial property values in a border metropolitan economy," Asia-Pacific Journal of Regional Science, Springer, vol. 2(2), pages 337-360, August.
    10. Zou, Guojian & Lai, Ziliang & Li, Ye & Liu, Xinghua & Li, Wenxiang, 2022. "Exploring the nonlinear impact of air pollution on housing prices: A machine learning approach," Economics of Transportation, Elsevier, vol. 31(C).
    11. Löchl, Michael & Axhausen, Kay W., 2010. "Modelling hedonic residential rents for land use and transport simulation while considering spatial effects," The Journal of Transport and Land Use, Center for Transportation Studies, University of Minnesota, vol. 3(2), pages 39-63.
    12. Nakamura, Hiroki, 2020. "Evaluating the value of an entrepreneurial city with a spatial hedonic approach: A case study of London," Socio-Economic Planning Sciences, Elsevier, vol. 71(C).
    13. Lockwood, Tony & Coffee, Neil T & Rossini, Peter & Niyonsenga, Theo & McGreal, Stanley, 2018. "Does where you live influence your socio-economic status?," Land Use Policy, Elsevier, vol. 72(C), pages 152-160.
    14. Fan Liu & Min Min & Ke Zhao & Weiyan Hu, 2020. "Spatial-Temporal Variation in the Impacts of Urban Infrastructure on Housing Prices in Wuhan, China," Sustainability, MDPI, vol. 12(3), pages 1-18, February.
    15. Mahdieh Yazdani, 2021. "House Price Determinants and Market Segmentation in Boulder, Colorado: A Hedonic Price Approach," Papers 2108.02442, arXiv.org.
    16. David C. Wheeler & Antonio Páez & Jamie Spinney & Lance A. Waller, 2014. "A Bayesian approach to hedonic price analysis," Papers in Regional Science, Wiley Blackwell, vol. 93(3), pages 663-683, August.
    17. Deller, Steven, 2011. "Spatial heterogeneity in the wage curve," Economics Letters, Elsevier, vol. 113(3), pages 231-233.
    18. Emmanuelle Lavaine, 2019. "Environmental risk and differentiated housing values," Post-Print hal-02048712, HAL.
    19. Jamie Spinney & Pavlos Kanaroglou & Darren Scott, 2011. "Exploring Spatial Dynamics with Land Price Indexes," Urban Studies, Urban Studies Journal Limited, vol. 48(4), pages 719-735, March.
    20. Biao Sun & Shan Yang, 2020. "Asymmetric and Spatial Non-Stationary Effects of Particulate Air Pollution on Urban Housing Prices in Chinese Cities," IJERPH, MDPI, vol. 17(20), pages 1-23, October.

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    More about this item

    Keywords

    Hedonic modelling; Implicit prices; Heterogeneity; GWR; Household profile; R20; C50;
    All these keywords.

    JEL classification:

    • R20 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - General
    • C50 - Mathematical and Quantitative Methods - - Econometric Modeling - - - General

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