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Hypothesis testing in hedonic price estimation - On the selection of independent variables

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  • David E. Andersson

    (The Institute of Economics, Academia Sinica, Taipei, Taiwan)

Abstract

Various approaches to hypothesis testing have been used in the past for the purpose of estimating hedonic price equations. The criteria for testing and rejecting explanatory variables have however rarely been made explicit. This paper argues that the results of earlier studies should be used according to structured and not overly arbitrary criteria for selecting which variables to test as well as for their subsequent acceptance or rejection. An explanatory analysis of Singapore's condominium market is used as an empirical illustration of the decision rule for variable selection proposed in the methodological part of the paper.

Suggested Citation

  • David E. Andersson, 2000. "Hypothesis testing in hedonic price estimation - On the selection of independent variables," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 34(2), pages 293-304.
    • Handle: RePEc:spr:anresc:v:34:y:2000:i:2:p:293-304
    Note: Received: March 1998/Accepted: May 1999
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    Citations

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    Cited by:

    1. Loïc Lévi & Jean Jacques Nowak & Sylvain Petit & Hakim Hammadou, 2022. "Industrial legacy and hotel pricing: An application of spatial hedonic pricing analysis in Nord-Pas-de-Calais, France," Tourism Economics, , vol. 28(4), pages 870-898, June.
    2. Epiphane SODJINOU & Arne HENNINGSEN & Delphin Olorounto KOUDANDÉ & Gauthier BIAOU & Guy Apollinaire MENSAH, 2015. "Consumers’ preferences for “bicycle poultry” in Benin: Implications for the design of breeding schemes," Review of Agricultural and Environmental Studies - Revue d'Etudes en Agriculture et Environnement, INRA Department of Economics, vol. 96(3), pages 389-410.
    3. Glumac, Brano & Herrera-Gomez, Marcos & Licheron, Julien, 2019. "A hedonic urban land price index," Land Use Policy, Elsevier, vol. 81(C), pages 802-812.
    4. Vecco, Marilena & Chang, Simeng & Zanola, Roberto, 2022. "The more you know, the better: A Heckman repeat-sales price index," The Quarterly Review of Economics and Finance, Elsevier, vol. 85(C), pages 194-199.
    5. David Emanuel Andersson, 2011. "Creative Cities Need Less Government," Chapters, in: David Emanuel Andersson & Åke E. Andersson & Charlotta Mellander (ed.), Handbook of Creative Cities, chapter 16, Edward Elgar Publishing.
    6. Zhijunjie Zhai & Minfeng Yao & Yueying Li, 2022. "Evaluation of Land-Use Layout of the Rail Station Area Based on the Difference in Noise Sensitivity to Rail Transit, Taking a Suburb of Tokyo as an Example," Sustainability, MDPI, vol. 14(13), pages 1-23, June.
    7. Belcher, Richard N. & Chisholm, Ryan A., 2018. "Tropical Vegetation and Residential Property Value: A Hedonic Pricing Analysis in Singapore," Ecological Economics, Elsevier, vol. 149(C), pages 149-159.
    8. Josep Maria Espinet & Ariadna Gassiot-Melian & Ricard Rigall-I-Torrent, 2020. "An analysis of price segmentation in the cruise industry," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 19(3), pages 162-189, June.
    9. Zoltan Kettinger & David Emanuel Andersson, 2012. "Does the Creative Class Affect Land Values? Empirical Estimates from Sweden," ERSA conference papers ersa12p552, European Regional Science Association.
    10. GLUMAC Brano & HERRERA-GOMEZ Marcos & LICHERON Julien, 2018. "A residential land price index for Luxembourg: Dealing with the spatial dimension," LISER Working Paper Series 2018-07, Luxembourg Institute of Socio-Economic Research (LISER).
    11. David Emanuel Andersson, 2014. "Cities and planning: the role of system constraints," Chapters, in: David Emanuel Andersson & Stefano Moroni (ed.), Cities and Private Planning, chapter 2, pages 19-37, Edward Elgar Publishing.
    12. Cirer-Costa, Joan Carles, 2017. "Estrategias de fijación y ofuscación de precios en los hoteles de sol y playa [Pricing and obfuscation strategies for sun and beach hotels]," MPRA Paper 81823, University Library of Munich, Germany.
    13. Pia Nilsson, 2017. "Are valuations of place-based amenities driven by scale?," Housing Studies, Taylor & Francis Journals, vol. 32(4), pages 449-469, May.
    14. Hakim Hammadou & Lévi Loïc & Jean Jacques Nowak & Sylvain Petit, 2018. "The prices of public goods and public bads for hotel rooms in Nord-Pas de Calais, France," Working Papers hal-01831534, HAL.

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