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Semiparametric hedonic price models: assessing the effects of agricultural nonpoint source pollution

Abstract : In the area of environmental analysis using hedonic price models, we investigate the performance of various nonparametric and semiparametric specifications. The proposed model specifications are made up of two parts: a linear component for house characteristics and a non-(semi)parametric component representing the nonlinear influence of environmental indicators on house prices. We adopt a general-to-specific search procedure, based on recent specification tests comparing the proposed specifications with a fully nonparametric benchmark model, to select the best model specification. An application of these semiparametric models to rural districts indicates that pollution resulting from intensive livestock farming has a significant nonlinear impact on house prices.
Mots-clés : TEST STATISTIQUE
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Submitted on : Saturday, May 30, 2020 - 10:02:09 PM
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Christophe Bontemps, Michel Simioni, Yves Surry. Semiparametric hedonic price models: assessing the effects of agricultural nonpoint source pollution. Journal of Applied Econometrics, Wiley, 2008, 23 (6), pp.825-842. ⟨10.1002/jae.1022⟩. ⟨hal-02661292⟩

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