Author/Authors
Carriazo، نويسنده , , Fernando and Ready، نويسنده , , Richard and Shortle، نويسنده , , James، نويسنده ,
DocumentNumber
3542647
Title Of Article
Using stochastic frontier models to mitigate omitted variable bias in hedonic pricing models: A case study for air quality in Bogotل, Colombia
شماره ركورد
6137
Latin Abstract
Hedonic pricing models use property value differentials to value changes in environmental quality. If unmeasured quality attributes of residential properties are correlated with an environmental quality measure of interest, conventional methods for estimating implicit prices will be biased. Because many unmeasured quality measures tend to be asymmetrically distributed across properties, it may be possible to mitigate this bias by estimating a heteroskedastic frontier regression model. This approach is demonstrated for a hedonic price function that values air quality in Bogotل, Colombia.
From Page
80
NaturalLanguageKeyword
Hedonic pricing model , Omitted variables , Air quality , Stochastic frontier model
JournalTitle
Studia Iranica
To Page
88
To Page
88
Link To Document