On the choice of functional form for hedonic price functions
On the choice of functional form for hedonic price functions
复制标题
特征价格函数函数形式的选择
DOI：
10.1080/00036849000000002
复制
发表时间：
1990
影响因子：
2.2
通讯作者：
T. Zuehlke
中科院分区：
文献类型：
--
作者：
D. W. Rasmussen;T. Zuehlke
本文提出的实证结果证明了二次模型在特征价格函数估计中的有用性。我们提出了二次半对数模型，这是二次 Box-Cox 模型的限制情况，其标准化边际属性价格是属性向量的线性函数。该规范在解释力方面优于线性 Box-Cox 规范，并且捕获了二次 Box-Cox 模型提供的解释力的大部分增加，而解释系数估计的能力没有相应的损失。对于政策应用，二次半对数模型提供了线性规范的有用替代方案。
The empirical results presented in this paper demonstrate the usefulness of quadriatic models in the estimation of hedonic price functions. We propose a quadriatic semi-log model, a restricted case of the quadriatic Box-Cox model, whose standardized marginal attribute prices are linear functions of the attribute vector. This specification outperforms the linear Box-Cox specification in terms of explanatory power, and captures much of the increase in explanatory power provided by the quadriatic Box-Cox model without the corresponding loss in the ability to interpret the coefficient estimates. For policy applications, the quadriatic Semi-log model provides a useful alternative to linear specification.