A Selection Model of Hedonic House Values and Rents Article Swipe
Related Concepts
Economic rent
Renting
Selection (genetic algorithm)
Rental housing
Hedonic pricing
House price
Economics
Econometrics
Microeconomics
Computer science
Engineering
Civil engineering
Artificial intelligence
We use a large repeated cross-section of houses to estimate a selection model of the supply of owner-occupied and rental housing. We find that physical characteristics and unobserved heterogeneity and not location are important for selection. We interpret this as strong evidence in favor of contracting frictions in the rental market relating to maintenance and modification of a dwellings physical characteristics.
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