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Estimating Housing Demand with an Application to Explaining Racial Segregation in Cities / Patrick Bajari, Matthew E. Kahn.
- Format:
- Book
- Author/Creator:
- Bajari, Patrick.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w9891.
- NBER working paper series no. w9891
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2003.
- Summary:
- We present a three-stage estimation procedure to recover willingness to pay for housing attributes. In the first stage, we estimate a non-parametric hedonic home price function. Second, we recover each consumer's taste parameters for product characteristics using first order conditions for utility maximization. Finally, we estimate the distribution of household tastes as a function of household demographics. As an application of our methods, we compare alternative explanations for why blacks choose to live in center cities while whites suburbanize.
- Notes:
- Print version record
- August 2003.
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