Average derivative estimation of hedonic price models

Junsoo Lee, Seung Jun Kwak, John A. List

Research output: Contribution to journalArticle

3 Citations (Scopus)

Abstract

Conventional parametric techniques for estimating hedonic price models require a correct functional form. In this paper, we side-step this parametric shortcoming by estimating a hedonic price model using average derivative estimation (ADE). This semiparametric approach produces robust estimates of the marginal effects without assuming a specific functional form a priori. In our application of the model to a unique data set on Korean home prices, ADE produced estimates consistent with prior expectations, providing initial evidence that the model may represent a viable alternative when using the hedonic approach.

Original languageEnglish
Pages (from-to)81-91
Number of pages11
JournalEnvironmental and Resource Economics
Volume16
Issue number1
DOIs
Publication statusPublished - 2000 May

Keywords

  • Average derivative estimation
  • Hedonic price models
  • Semiparametric estimation

ASJC Scopus subject areas

  • Economics and Econometrics
  • Management, Monitoring, Policy and Law

Fingerprint Dive into the research topics of 'Average derivative estimation of hedonic price models'. Together they form a unique fingerprint.

  • Cite this