Journal title ECONOMIA E DIRITTO DEL TERZIARIO
Author/s Alessia Bruzzo
Publishing Year 2018 Issue 2017/3
Language Italian Pages 0 P. File size 0 KB
DOI 10.3280/edt3-2017oa6269
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This work contains empirical analysis to interpret the determination of housing market prices according to what the hedonic price theory applied to a wide range of marine related area, the town of Genoa. The empirical analysis is based on a sample specifically created by collecting data on housing supply captured in a given period of 2015. The proposed objective is purely empirical and aims to play the role exercised by the different intrinsic characteristics of a dwelling in determination of its price. This type of analysis is done on a heterogeneous sample, it characterized both by high rated areas, of the type mostly tourist or prestigious, as from industrial suburban areas of low value and urban areas connected to the port activities.Comparing the simple model with the hedonic price theory, we get four different regressions, two for each model: a robust model and a clustered OLS model with instrumental variables. As in the work of Caglayan (2013), the estimated hedonic model gives better and more accurate results than the simple type model. And within the hedonic model the kind of instrumental variables perform better than the robust OLS model.
Keywords: real estate market, hedonic price model, house prices
Alessia Bruzzo, Stima ed interpretazione nella determinazione del prezzo edonico degli immobili: il caso di Genova in "ECONOMIA E DIRITTO DEL TERZIARIO" 3/2017, pp , DOI: 10.3280/edt3-2017oa6269