近隣外部性を考慮したヘドニック住宅関数の推定
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概要
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In this study, we aim to analyze the relationships between the quality and price of detached houses in the 23 wards of Tokyo. We propose a detached houses price estimation method. Specifically, with a linear model as the starting point, we estimate nonlinear relationships of detached houses prices in terms of land area in square meters using a switching regression model (SWR) which is a parametric estimation method were used on the basis of market structural changes. In addition, we estimate hedonic function with neighborhood effects which in general is difined unobserved variables. These variables are observed by using GIS. These models were compared with the estimated classical linear model as the starting point, SWR and expantion model controlling neighborhood effect increased the power of explanation.