Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/79732
Authors: 
Kolbe, Jens
Schulz, Rainer
Wersing, Martin
Werwatz, Axel
Year of Publication: 
2013
Series/Report no.: 
Beiträge zur Jahrestagung des Vereins für Socialpolitik 2013: Wettbewerbspolitik und Regulierung in einer globalen Wirtschaftsordnung - Session: Housing G10-V1
Abstract: 
We propose a novel semiparametric method to extract location values from house prices. After splitting house prices into building and land components, location values are estimated with adaptive weight smoothing. The adaptive estimator requires neither strong smoothness assumptions nor local symmetry. We apply the method to house transactions from Berlin, Germany. The estimated surface of location values is highly correlated with expert-based land values and location ratings. The method can therefore be used for applications where no other location value information exists or where this information is not reliable.
JEL: 
C14
R31
C50
Document Type: 
Conference Paper

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