Diagnostics for Hedonic Models Using an Example for Cars (Hedonic Regression)

This study examines the effect that windfarm visibility has on residential property values using a hedonic regression model. The study area is Ashhurst, New Zealand, a township of approximately 900 dwellings. Ashhurst is located within eight kilometres of two separate windfarms that were developed between 1998 and 2007 comprising 103x660kW turbines, 31x3MW turbines, and 55x1.65MW turbines. The analysis uses the 945 open market house sales that occurred in Ashhurst between 1995 and 2008. Visual impact of turbines is studied to capture the impact of windfarms and it is assessed using GIS viewshed analysis and by field inspection. The hedonic models had satisfactory explanatory performance and in each case indicated that the turbines located between 2.5 and 6 kilometres from the township of Ashhurst had no significant impact on property value.

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Diagnostics for Hedonic Models Using an Example for Cars (Hedonic Regression)

Biometrics & Biostatistics International Journal ◽

10.15406/bbij.2014.02.00022 ◽

2015 ◽

Vol 2 (1) ◽

Author(s):

Ilker Ercan

Keyword(s):

Hedonic Regression ◽

Hedonic Models

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Casemix funding for a Specialist Paediatrics Hospital:A hedonic regression approach

Australian Health Review ◽

10.1071/ah000171 ◽

2000 ◽

Vol 23 (3) ◽

pp. 171

Author(s):

John F P Bridges ◽

Ralph M Hanson

Keyword(s):

Explanatory Variable ◽

Diagnosis Related Groups ◽

Cost Data ◽

Hedonic Regression ◽

Hedonic Models ◽

Hedonic Analysis ◽

Patient Level ◽

Funding Model ◽

Casemix Funding ◽

Regression Approach

This paper inquires into the effects that Diagnosis Related Groups (DRGs) have had on the ability to explain patient-levelcosts in a specialist paediatrics hospital. Two hedonic models are estimated using 1996/97 New Children'sHospital (NCH) patient level cost data, one with and one without a casemix index (CMI). The results show thatthe inclusion of a casemix index as an explanatory variable leads to a better accounting of cost. The full hedonicmodel is then used to simulate a funding model for the 1997/98 NCH cost data. These costs are highly correlatedwith the actual costs reported for that year. In addition, univariate regression indicates that there has been inflationin costs in the order of 4.8% between the two years. In conclusion, hedonic analysis can provide valuable evidencefor the design of funding models that account for casemix.

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