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Nonparametric estimation of a hedonic price model: A South African case study

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  • Deborah E. Lee
  • Mario du Preez
  • Michael C. Sale

Abstract

Parametric regression models of hedonic price functions suffer from two main specification issues: the identification of appropriate dependent and independent variables, and the choice of functional form. Although the first issue remains relevant with the use of nonparametric regression models, the second issue becomes irrelevant since these models do not presume functional forms a priori. […]

Suggested Citation

  • Deborah E. Lee & Mario du Preez & Michael C. Sale, 2013. "Nonparametric estimation of a hedonic price model: A South African case study," Working Papers 379, Economic Research Southern Africa.
    • Handle: RePEc:rza:wpaper:379
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    Cited by:

    1. Bingling Wang & Sudipto Banerjee & Rangan Gupta, 2021. "Bayesian Spatial Modeling for Housing Data in South Africa," Sankhya B: The Indian Journal of Statistics, Springer;Indian Statistical Institute, vol. 83(2), pages 395-414, November.
    2. Mathur, Shishir, 2022. "Non-linear and weakly monotonic relationship between school quality and house prices," Land Use Policy, Elsevier, vol. 113(C).

    More about this item

    Keywords

    Commodity prices; econometric modelling; South Africa;
    All these keywords.

    JEL classification:

    • C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General
    • C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General
    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms

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