A Note on the Hedonic Model Specification for Income Properties

2002 ◽  
pp. 157-180 ◽  
Author(s):  
Bo Söderberg
Keyword(s):  
Hedonic Model ◽  
Model Specification

scholarly journals Functional Form Model Specification: An Application to Hedonic Pricing

1995 ◽  
Vol 24 (2) ◽  
pp. 166-173 ◽  
Author(s):  
Jeff E. Brown ◽  
Don E. Ethridge
Keyword(s):  
Functional Form ◽  
Hedonic Pricing ◽  
Hedonic Model ◽  
Model Specification ◽  
Estimation Accuracy ◽  
Hedonic Price ◽  
Partial Regression ◽  
Cotton Price ◽  
Residuals Analysis ◽  
Form Model

A combination of conceptual analysis and empirical analysis—partial regression and residuals analysis—was used to derive an appropriate functional form hedonic price model. These procedures are illustrated in the derivation of a functional form hedonic model for an automated, econometric daily cotton price reporting system for the Texas-Oklahoma cotton market. Following conceptualization to deduce the general shapes of relationships, the appropriate specific functional form was found by testing particular attribute transformations identified from partial regression analysis. Minimizing structural errors across attribute levels and estimation accuracy were used in determining when an appropriate functional form for both implicit and explicit prices was found.

Forced Zero Cross-Loading Misspecifications in Measurement Component of Structural Equation Models

Methodology ◽  
2014 ◽  
Vol 10 (4) ◽  
pp. 138-152 ◽  
Author(s):  
Hsien-Yuan Hsu ◽  
Susan Troncoso Skidmore ◽  
Yan Li ◽  
Bruce Thompson
Keyword(s):  
Structural Equation ◽  
Structural Model ◽  
Structural Equation Models ◽  
Equation Model ◽  
Model Fit ◽  
Model Specification ◽  
Simulation Design ◽  
Measurement Models ◽  
Fit Statistics ◽  
Path Coefficients

The purpose of the present paper was to evaluate the effect of constraining near-zero parameter cross-loadings to zero in the measurement component of a structural equation model. A Monte Carlo 3 × 5 × 2 simulation design was conducted (i.e., sample sizes of 200, 600, and 1,000; parameter cross-loadings of 0.07, 0.10, 0.13, 0.16, and 0.19 misspecified to be zero; and parameter path coefficients in the structural model of either 0.50 or 0.70). Results indicated that factor pattern coefficients and factor covariances were overestimated in measurement models when near-zero parameter cross-loadings constrained to zero were higher than 0.13 in the population. Moreover, the path coefficients between factors were misestimated when the near-zero parameter cross-loadings constrained to zero were noteworthy. Our results add to the literature detailing the importance of testing individual model specification decisions, and not simply evaluating omnibus model fit statistics.

A Note on Confidence Intervals and Model Specification

Marketing ZFP ◽  
2019 ◽  
Vol 41 (4) ◽  
pp. 33-42
Author(s):  
Thomas Otter
Keyword(s):  
Confidence Intervals ◽  
Generalized Linear Model ◽  
Statistical Information ◽  
Regression Coefficients ◽  
Model Specification ◽  
Model Parameters ◽  
Exploratory Research ◽  
Empirical Calibration ◽  
Credible Intervals ◽  
Model Structures

Empirical research in marketing often is, at least in parts, exploratory. The goal of exploratory research, by definition, extends beyond the empirical calibration of parameters in well established models and includes the empirical assessment of different model specifications. In this context researchers often rely on the statistical information about parameters in a given model to learn about likely model structures. An example is the search for the 'true' set of covariates in a regression model based on confidence intervals of regression coefficients. The purpose of this paper is to illustrate and compare different measures of statistical information about model parameters in the context of a generalized linear model: classical confidence intervals, bootstrapped confidence intervals, and Bayesian posterior credible intervals from a model that adapts its dimensionality as a function of the information in the data. I find that inference from the adaptive Bayesian model dominates that based on classical and bootstrapped intervals in a given model.

Designing Experiments for Model Identification of the Nitrification Process

1991 ◽  
Vol 24 (6) ◽  
pp. 9-16 ◽  
Author(s):  
P. J. Ossenbruggen ◽  
H. Spanjers ◽  
H. Aspegren ◽  
A. Klapwijk
Keyword(s):  
Mechanistic Model ◽  
Nonlinear Differential Equations ◽  
Model Identification ◽  
Reaction Rates ◽  
Variable Coefficients ◽  
Model Specification ◽  
First Order ◽  
Interactive Behavior ◽  
Batch Tests ◽  
Nitrification Process

A series of batch tests were performed to study the competition for oxygen by Nitrosomonas and Nitrobacter in the nitrification of ammonia in activated sludge. Oxygen uptake rate (OUR) and dynamic (compartment) models describing the process are proposed and tested. The OUR model is described by a Monod relationship and the biogradation process by a set of first order nonlinear differential equations with variable coefficients. The results show a mechanistic model and ten reaction rates are sufficient to capture the interactive behavior of the nitrification process. Methods for model specification, calibrating, and testing the model and the design of additional experiments are described.

scholarly journals Values of Travel Time for Recreational Trips under Different Behavioural Rules

2021 ◽  
Vol 13 (12) ◽  
pp. 6831
Author(s):  
Rosa Marina González ◽  
Concepción Román ◽  
Ángel Simón Marrero
Keyword(s):  
Travel Time ◽  
National Parks ◽  
Traffic Congestion ◽  
National Park ◽  
Revealed Preference ◽  
Discrete Choice Models ◽  
Model Specification ◽  
Regret Minimization ◽  
Random Regret Minimization

In this study, discrete choice models that combine different behavioural rules are estimated to study the visitors’ preferences in relation to their travel mode choices to access a national park. Using a revealed preference survey conducted on visitors of Teide National Park (Tenerife, Spain), we present a hybrid model specification—with random parameters—in which we assume that some attributes are evaluated by the individuals under conventional random utility maximization (RUM) rules, whereas others are evaluated under random regret minimization (RRM) rules. We then compare the results obtained using exclusively a conventional RUM approach to those obtained using both RUM and RRM approaches, derive monetary valuations of the different components of travel time and calculate direct elasticity measures. Our results provide useful instruments to evaluate policies that promote the use of more sustainable modes of transport in natural sites. Such policies should be considered as priorities in many national parks, where negative transport externalities such as traffic congestion, pollution, noise and accidents are causing problems that jeopardize not only the sustainability of the sites, but also the quality of the visit.

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