Estimating the Demand for the Characteristics of Housing
基于特征价格回归，提出更合适的框架来估计住房特征需求，利用多城市数据解决识别问题，并处理非线性特征价格方程中边际价格的内生性，结果符合预期。
A hstract-Estimates of the demand for the characteristics contained in a differentiated product such as housing can be based on hedonic regressions. However, previous studies have not dealt with several potential problems in such estimation. A more appropriate framework for the estimation is provided in this paper. Also data from a number of cities are used to eliminate the identification problem, and the endogeneity of the marginal prices derived from non-linear hedonic equations is considered in the estimation. The results on own and cross price elasticities, expenditure elasticities, and the effects of socio-economic vafiables accord well with expectations.