Using Quantile Regression in Hedonic Analysis to Reveal Submarket Competition by ProQuest

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									Using Quantile Regression in Hedonic
Analysis to Reveal Submarket
Competition

Authors                M i c h a e l C . Fa r m e r a n d C l i ff o r d A . L i p s c o m b




Abstract               In this paper, we use quantile regression analysis to explore the
                       role submarket competition plays in setting housing prices in
                       those price ranges where different submarkets occupy homes of
                       similar price. We find evidence of direct competition between
                       submarkets with different preferences for at least some homes
                       in a single neighborhood. By examining hedonic parameter
                       instability at different housing pri
								
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