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2012-05-30Diskussionspapier DOI: 10.18452/4413
Location, location, location
dc.contributor.authorKolbe, Jens
dc.contributor.authorSchulz, Rainer
dc.contributor.authorWersing, Martin
dc.contributor.authorWerwatz, Axel
dc.date.accessioned2017-06-16T00:41:06Z
dc.date.available2017-06-16T00:41:06Z
dc.date.created2012-06-11
dc.date.issued2012-05-30
dc.date.submitted2012-05-30
dc.identifier.issn1860-5664
dc.identifier.urihttp://edoc.hu-berlin.de/18452/5065
dc.description.abstractThe price for a single-family house depends both on the characteristics of the building and on its location. We propose a novel semiparametric method to extract location values from house prices. After splitting house prices into building and land components, location values are estimated with adaptive weight smoothing. The adaptive estimator requires neither strong smoothness assumptions nor local symmetry. We apply the method to house transactions from Berlin, Germany. The estimated surface of location values is highly correlated with expert-based land values and location ratings. The semiparametric method can therefore be used for applications where no other location value information exists or where this information is not reliable.eng
dc.language.isoeng
dc.publisherHumboldt-Universität zu Berlin, Wirtschaftswissenschaftliche Fakultät
dc.rights.urihttp://rightsstatements.org/vocab/InC/1.0/
dc.subjectlocation valueeng
dc.subjectadaptive weight smoothingeng
dc.subjectspatial modelingeng
dc.subject.ddc310 Sammlungen allgemeiner Statistiken
dc.subject.ddc330 Wirtschaft
dc.titleLocation, location, location
dc.typeworkingPaper
dc.identifier.urnurn:nbn:de:kobv:11-100202489
dc.identifier.doihttp://dx.doi.org/10.18452/4413
local.edoc.pages33
local.edoc.type-nameDiskussionspapier
local.edoc.container-typeseries
local.edoc.container-type-nameSchriftenreihe
local.edoc.container-year2012
dc.title.subtitleExtracting location value from house prices
dc.identifier.zdb2195055-6
bua.series.nameSonderforschungsbereich 649: Ökonomisches Risiko
bua.series.issuenumber2012,40

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