Hedonic Price Method for Housing
DOI:
https://doi.org/10.18533/ijbsr.v4i8.576Keywords:
Hedonic regression model, sample observation, statistic analysis, Box-Cox test, hedonic price index, dummy variable.Abstract
Hedonic goods are analyzed by “Hedonic price model” and it makes possible to compute the adequacy of price indices in the commodity markets. Hedonic goods involve an immovable property, such as apartment, computers, cars, home things, mobile phones etc. The features of these goods form their prices.
Marginal effects of features of goods in forming the prices of hedonic goods can be determined by this approach. In other words, the parameters obtained from estimating the hedonic price model describes the marginal value of characteristics of goods.
This method creates wide opportunities for analyzing the quality changes on behavior and pleasure of people.
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