3 results
A Systematic Assessment of Hedonic Specifications and Estimation Methods for the Quebec Housing Market, 2021–2026
Fifty years after Rosen (1974), applied hedonic practice still rests on specification choices (functional form, temporal controls, spatial controls, estimation method) that are made by convention and rarely stress-tested jointly. Using 514,212 Quebec residential sales (2021–2026) whose structural descriptors come from…
Decomposing the Value of Structure and Location across 142,121 MLS Listings with High-Dimensional Neighbourhood Fixed Effects
This paper estimates a national hedonic price function for the Canadian residential market on a cross-section of 142,121 active MLS listings from nine provinces. A semi-logarithmic specification relates the log list price to structural attributes, dwelling type and ownership form, and 1,155 absorbed neighbourhood…
This paper compares econometric and machine-learning approaches to hedonic housing valuation on 788,842 active Zillow listings covering all 50 U.S. states and the District of Columbia, and asks how much of the machine-learning advantage survives when models must price homes in markets they have not seen. A semi-log…