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Variabilité spatiale des prix hédoniques des caractéristiques du logement: une nouvelle méthode de calcul des indices de prix spatiaux
[Spatial variability of housing attribute marginal prices: estimation of regional price indices]

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  • Filali, Radhouane

Abstract

Estimation of spatial housing price indices requires a housing market segmentation into local sub-markets. In this paper, we use geographically weighted regression model (GWR) to take account for spatial heterogeneity of housing attribute marginal prices. Estimated marginal prices are then used to assess constant quality housing values over space. Evidences from urban Tunisia assert attribute marginal prices variability and provide satisfactory indices in both ownership and rental markets.

Suggested Citation

  • Filali, Radhouane, 2008. "Variabilité spatiale des prix hédoniques des caractéristiques du logement: une nouvelle méthode de calcul des indices de prix spatiaux
    [Spatial variability of housing attribute marginal prices: est
    ," MPRA Paper 14227, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:14227
    as

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    File URL: https://mpra.ub.uni-muenchen.de/15686/1/MPRA_paper_15686.pdf
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    References listed on IDEAS

    as
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    2. Wilhelmsson, Mats, 2002. "Household Expenditure Patterns for Housing Attributes: A Linear Expenditure System with Hedonic Prices," Journal of Housing Economics, Elsevier, vol. 11(1), pages 75-93, March.
    3. Haurin, Donald R. & Brasington, David, 1996. "School Quality and Real House Prices: Inter- and Intrametropolitan Effects," Journal of Housing Economics, Elsevier, vol. 5(4), pages 351-368, December.
    4. Goodman, Allen C., 1978. "Hedonic prices, price indices and housing markets," Journal of Urban Economics, Elsevier, vol. 5(4), pages 471-484, October.
    5. Zabel, Jeffrey E., 2004. "The demand for housing services," Journal of Housing Economics, Elsevier, vol. 13(1), pages 16-35, March.
    6. Sheppard, Stephen, 1999. "Hedonic analysis of housing markets," Handbook of Regional and Urban Economics,in: P. C. Cheshire & E. S. Mills (ed.), Handbook of Regional and Urban Economics, edition 1, volume 3, chapter 41, pages 1595-1635 Elsevier.
    7. Benson, Earl D & Hansen, Julia L. & Schwartz Jr., Arthur & Smersh, Greg T., 1998. "Pricing Residential Amenities: The Value of a View," The Journal of Real Estate Finance and Economics, Springer, vol. 16(1), pages 55-73, January.
    8. Peter F. Colwell & Gene Dilmore, 1999. "Who Was First? An Examination of an Early Hedonic Study," Land Economics, University of Wisconsin Press, vol. 75(4), pages 620-626.
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    12. Richard V. Butler, 1982. "The Specification of Hedonic Indexes for Urban Housing," Land Economics, University of Wisconsin Press, vol. 58(1), pages 96-108.
    13. Bartik, Timothy J, 1987. "The Estimation of Demand Parameters in Hedonic Price Models," Journal of Political Economy, University of Chicago Press, vol. 95(1), pages 81-88, February.
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    17. Michaels, R. Gregory & Smith, V. Kerry, 1990. "Market segmentation and valuing amenities with hedonic models: The case of hazardous waste sites," Journal of Urban Economics, Elsevier, vol. 28(2), pages 223-242, September.
    18. Won Kim, Chong & Phipps, Tim T. & Anselin, Luc, 2003. "Measuring the benefits of air quality improvement: a spatial hedonic approach," Journal of Environmental Economics and Management, Elsevier, vol. 45(1), pages 24-39, January.
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    More about this item

    Keywords

    Marché de logement - Prix hédoniques - régression géographiquement pondérée - indice de prix spatiaux;

    JEL classification:

    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand

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