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Theoretical Background of Hedonic Measure and Repeat Sales Measure-Survey-

In: Property Price Index

Author

Listed:
  • W. Erwin Diewert

    (University of British Columbia)

  • Kiyohiko G. Nishimura

    (National Graduate Institute for Policy Studies (GRIPS))

  • Chihiro Shimizu

    (Nihon University & The University of Tokyo)

  • Tsutomu Watanabe

    (The University of Tokyo)

Abstract

When it comes to methods of quality adjustment for property price indexes, if one looks at the Residential Property Price Indices HandbookResidential Property Price Indices Handbook published by EuroStat in 2013, it present a variety of methods along with their advantages and disadvantages: (a) Stratification or Mix Adjustment MethodsMix adjustment methods, (b) Hedonic Regression Methods, (c) Repeat Sales Methods, and (d) Appraisal-Based MethodsAppraisal-based methods. This is because, in reality, multiple methods have been applied in the estimation of property price indexes.

Suggested Citation

  • W. Erwin Diewert & Kiyohiko G. Nishimura & Chihiro Shimizu & Tsutomu Watanabe, 2020. "Theoretical Background of Hedonic Measure and Repeat Sales Measure-Survey-," Advances in Japanese Business and Economics, in: Property Price Index, chapter 0, pages 35-78, Springer.
    • Handle: RePEc:spr:advchp:978-4-431-55942-9_2
    DOI: 10.1007/978-4-431-55942-9_2
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