Nonparametric estimation of dynamic hedonic price models and the construction of residential housing price indices
R Meese, N Wallace - Real Estate Economics, 1991 - Wiley Online Library
Abstract Parametric specifications for hedonic price equations are estimated using a data set
from Alameda and San Francisco Counties and are compared to estimates using a
nonparametric technique called locally weighted regression, LWR. LWR permits flexible
estimation of the hedonic's curvature at median attributes and is less sensitive than standard
regression techniques to the influence of unusual observations. The technique also ...
from Alameda and San Francisco Counties and are compared to estimates using a
nonparametric technique called locally weighted regression, LWR. LWR permits flexible
estimation of the hedonic's curvature at median attributes and is less sensitive than standard
regression techniques to the influence of unusual observations. The technique also ...