Semiparametric estimation of a hedonic price function
PM Anglin, R Gencay - Journal of Applied Econometrics, 1996 - JSTOR
Previous work on the preferred specification of hedonic price models usually recommended
a Box-Cox model. In this paper we note that any parametric model involves implicit
restrictions and they can be reduced by using a semiparametric model. We estimate a
benchmark parametric model which passes several common specification tests, before
showing that a semiparametric model outperforms it significantly. In addition to estimating ...
a Box-Cox model. In this paper we note that any parametric model involves implicit
restrictions and they can be reduced by using a semiparametric model. We estimate a
benchmark parametric model which passes several common specification tests, before
showing that a semiparametric model outperforms it significantly. In addition to estimating ...