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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]

  • Filali, Radhouane

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.

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File URL: http://mpra.ub.uni-muenchen.de/14227/1/MPRA_paper_14227.pdf
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File URL: http://mpra.ub.uni-muenchen.de/15686/1/MPRA_paper_15686.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 14227.

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Date of creation: 20 Oct 2008
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Handle: RePEc:pra:mprapa:14227
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  1. Christopher Bitter & Gordon Mulligan & Sandy Dall’erba, 2007. "Incorporating spatial variation in housing attribute prices: a comparison of geographically weighted regression and the spatial expansion method," Journal of Geographical Systems, Springer, vol. 9(1), pages 7-27, April.
  2. Kim, Chong Won & Phipps, Tim T. & Anselin, Luc, 1998. "Measuring The Benefits Of Air Quality Improvement: A Spatial Hedonic Approach," 1998 Annual meeting, August 2-5, Salt Lake City, UT 20959, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  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.
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  7. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
  8. Stephen Sheppard, 1998. "Hedonic Analysis of Housing Markets," Urban/Regional 9805001, EconWPA.
  9. Kelvin J. Lancaster, 1966. "A New Approach to Consumer Theory," Journal of Political Economy, University of Chicago Press, vol. 74, pages 132.
  10. Benson, Earl D, et al, 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.
  11. 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.
  12. Palmquist, Raymond B., 1992. "Valuing localized externalities," Journal of Urban Economics, Elsevier, vol. 31(1), pages 59-68, January.
  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.
  14. Richard V. Butler, 1982. "The Specification of Hedonic Indexes for Urban Housing," Land Economics, University of Wisconsin Press, vol. 58(1), pages 96-108.
  15. Zabel, Jeffrey E., 2004. "The demand for housing services," Journal of Housing Economics, Elsevier, vol. 13(1), pages 16-35, March.
  16. 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.
  17. Kelley Pace, R., 1997. "Performing large spatial regressions and autoregressions," Economics Letters, Elsevier, vol. 54(3), pages 283-291, July.
  18. Rapaport, Carol, 1997. "Housing Demand and Community Choice: An Empirical Analysis," Journal of Urban Economics, Elsevier, vol. 42(2), pages 243-260, September.
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