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The Evaluation of Residential Living Space

Author

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  • David W. Rasmussen

    (Florida State University)

  • Thomas W. Zuehlke

    (Florida State University)

Abstract

In this paper we compare alternative specifications of the semi-log hedonic regression for a specific market area. We find that the most common specification employing floor area and number of rooms, as well as one that includes average room size, may be misspecified. Further, a straightforward alternative specification is shown to avoid the specification error problem and improve modestly the predictive power of the regression.

Suggested Citation

  • David W. Rasmussen & Thomas W. Zuehlke, 1988. "The Evaluation of Residential Living Space," The Review of Regional Studies, Southern Regional Science Association, vol. 18(2), pages 47-53, Spring.
    • Handle: RePEc:rre:publsh:v18:y:1988:i:2:p:47-53
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    References listed on IDEAS

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    1. Charles L. Leven & Jonathan H. Mark, 1977. "Revealed Preferences for Neighbourhood Characteristics," Urban Studies, Urban Studies Journal Limited, vol. 14(2), pages 147-159, June.
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    5. King, A Thomas & Mieszkowski, Peter, 1973. "Racial Discrimination, Segregation, and the Price of Housing," Journal of Political Economy, University of Chicago Press, vol. 81(3), pages 590-606, May-June.
    6. David Dale‐Johnson & G. Michael Phillips, 1984. "Housing Attributes Associated with Capital Gain," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 12(2), pages 162-175, June.
    7. Bender, Bruce & Hwang, Hae-Shin, 1985. "Hedonic housing price indices and secondary employment centers," Journal of Urban Economics, Elsevier, vol. 17(1), pages 90-107, January.
    8. Mingche M. Li & H. James Brown, 1980. "Micro-Neighborhood Externalities and Hedonic Housing Prices," Land Economics, University of Wisconsin Press, vol. 56(2), pages 125-141.
    9. Nelson, Jon P., 1978. "Residential choice, hedonic prices, and the demand for urban air quality," Journal of Urban Economics, Elsevier, vol. 5(3), pages 357-369, July.
    10. Amemiya, Takeshi, 1980. "Selection of Regressors," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 21(2), pages 331-354, June.
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    Cited by:

    1. Ihlanfeldt, Keith R. & Shaughnessy, Timothy M., 2004. "An empirical investigation of the effects of impact fees on housing and land markets," Regional Science and Urban Economics, Elsevier, vol. 34(6), pages 639-661, November.
    2. Amaresh Das, 2007. "Testing a Hazard Model for the Housing Market in New Orleans," American Journal of Economics and Sociology, Wiley Blackwell, vol. 66(2), pages 443-455, April.

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