Journal of Korea Planning Association (국토계획)

Korea Planning Association (대한국토도시계획학회)
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Estimation of Housing Price Function Using Hierarchy Linear Model

위계적 선형모델을 이용한 주택가격 함수 추정

Kim, Ju-Young
김주영

  • Published : 2003.12.31
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Abstract

Hedonic price model is now widely used in its determination of housing price analysis and a lot o researches was conducted in this field. However hedonic price model has a fundamental problems in estimating housing price function like the fixed effect of coefficients, spatial autocorrelation and heterogeniety. So, in this study hierarchy linear model was used in estimating housing price function and the concept of that model was introduced in detail. Housing price model was constructed in order to compare the results of two models. The estimated coefficients of two model was represented somewhat different from its size and statistical significance. According to the comparison of two model, hierarchy linear model was better performance than hedoinc model in terms of its predictive power.

Keywords

References

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