English
Ciência-IUL
Publicações
Descrição Detalhada da Publicação
Convenient links for the estimation of hedonic price indexes: the case of unique, infrequently traded assets
Título Revista
Statistica Neerlandica
Ano (publicação definitiva)
2014
Língua
Inglês
País
Estados Unidos da América
Mais Informação
Web of Science®
Scopus
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Abstract/Resumo
Hedonic methods are a prominent approach in the construction of quality-adjusted price indexes. This paper shows that the process of computing such indexes is substantially simplified if arithmetic (geometric) price indexes are computed based on exponential (log-linear) hedonic functions estimated by the Poisson pseudo-maximum likelihood (ordinary least squares) method. A Monte Carlo simulation study based on housing data illustrates the convenience of the links identified and the very attractive properties of the Poisson estimator in the hedonic framework.
Agradecimentos/Acknowledgements
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Palavras-chave
Hedonic price indexes,Quality adjustment,Retransformation,exponential regression,House prices,Poisson pseudo-maximum likelihood
Classificação Fields of Science and Technology
- Matemáticas - Ciências Naturais
