Comparative analysis of hedonic rents and maximum bids in a land-use simulation context
2010 (English)In: Proceedings of the Swiss Transport Research Conference (STRC), Monte Verita/Ascona, Switzerland, 2010Conference paper (Refereed)
The choice and bid-auction approaches for location choice modeling are analyzed and compared, with a focus in their rent estimation models: hedonic prices and expected maximum bids, respectively. A simulation experiment is performed over synthetic data, comparing several specifications for hedonic rent models with the expected maximum bid. Results show that the hedonic approach generates rents that diverge from the maximum bids. This results indicate that hedonic rent models can be improved by accounting for elements like household’s heterogeneity in preferences and market conditions or constraints.
Place, publisher, year, edition, pages
Monte Verita/Ascona, Switzerland, 2010.
location choice, hedonic rents, equilibrium, auction market, real estate
Transport Systems and Logistics
IdentifiersURN: urn:nbn:se:kth:diva-76835OAI: oai:DiVA.org:kth-76835DiVA: diva2:491208
TSC import 994 2012-02-06. QC 201202092012-02-062012-02-062012-02-09Bibliographically approved