Parametric, semiparametric, and nonparametric estimation of characteristic values within mass assessment and hedonic pricing models
RK Pace - The Journal of Real Estate Finance and Economics, 1995 - Springer
Parametric estimators, such as OLS, attain high efficiency for well-specified models.
Nonparametric estimators greatly reduce specification error but at the cost of efficiency.
Semiparametric estimators compromise between these dual goals of efficiency and
specification error. Semiparametric estimators can assume general forms within classes of
functional forms. This paper applies OLS, the kernel nonparametric regression estimator, ...
Nonparametric estimators greatly reduce specification error but at the cost of efficiency.
Semiparametric estimators compromise between these dual goals of efficiency and
specification error. Semiparametric estimators can assume general forms within classes of
functional forms. This paper applies OLS, the kernel nonparametric regression estimator, ...