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Which factors capitalize into house prices? A Bayesian averaging approach

Title data

Stadelmann, David:
Which factors capitalize into house prices? A Bayesian averaging approach.
In: Journal of Housing Economics. Vol. 19 (2010) Issue 3 . - 180 - 204.
ISSN 1051-1377
DOI: https://doi.org/10.1016/j.jhe.2010.07.002

Abstract in another language

This paper investigates the robustness of 33 community-specific explanatory variables for house prices in the Swiss metropolitan area of Zurich using Bayesian model averaging. The analysis suggests a new way to perform hedonic variable selection and provides a minimal list of variables which may serve as a priori constraints when predicting house prices or estimating the effect of other community-specific characteristics in a metropolitan area in a highly developed country. In the context analyzed, the main variables which capitalize with a high posterior probability are location-specific real estate characteristics, municipal taxes and expenditure for culture, health and social well-being. Demographic as well as other socio-economic controls seem to be of minor importance.

Further data

Item Type: Article in a journal
Refereed: Yes
Keywords: HOUSING Prices; BAYESIAN analysis; VALUATION; SOCIOECONOMICS; METROPOLITAN areas; PUBLIC spending; ROBUST control
Institutions of the University: Faculties > Faculty of Law, Business and Economics > Department of Economics > Professorship Development Economics > Professorship Development Economics - Univ.-Prof. Dr. David Stadelmann
Profile Fields > Emerging Fields > Governance and Responsibility
Faculties
Faculties > Faculty of Law, Business and Economics
Faculties > Faculty of Law, Business and Economics > Department of Economics
Faculties > Faculty of Law, Business and Economics > Department of Economics > Professorship Development Economics
Profile Fields
Profile Fields > Emerging Fields
Result of work at the UBT: No
DDC Subjects: 300 Social sciences > 320 Political science
300 Social sciences > 330 Economics
Date Deposited: 01 Dec 2014 08:23
Last Modified: 26 Apr 2018 09:31
URI: https://eref.uni-bayreuth.de/id/eprint/3301