000195860 001__ 195860
000195860 005__ 20180913062325.0
000195860 0247_ $$2doi$$a10.1007/s11067-013-9200-z
000195860 02470 $$2ISI$$a000334181900003
000195860 037__ $$aARTICLE
000195860 245__ $$aEstimation of bid functions for location choice and price modeling with a latent variable approach
000195860 269__ $$a2014
000195860 260__ $$aDordrecht$$bSpringer$$c2014
000195860 300__ $$a19
000195860 336__ $$aJournal Articles
000195860 520__ $$aA new approach for the estimation of bid-rent functions for residential location choice is proposed. The method is based on the bid-auction approach and considers that the expected maximum bid of the auction is a latent variable that can be related to observed price indicators through a measurement equation. The method has the advantage of allowing for the estimation of the parameters of the bid function that explain the heterogeneous preferences of households for location while simultaneously adjusting the expected maximum bid to reproduce realistic values. The model is applied and validated for a case study on the city of Brussels. Results show that the proposed model outperforms other methods for bid-rent estimation, both in terms of real estate prices and spatial distribution of agents, especially when detailed data describing the real estate goods and their prices is not available.
000195860 6531_ $$aLocation choice
000195860 6531_ $$aBid function
000195860 6531_ $$aAuction
000195860 6531_ $$aReal estate
000195860 6531_ $$aRent
000195860 700__ $$0243036$$aHurtubia, Ricardo$$g184510
000195860 700__ $$0240563$$aBierlaire, Michel$$g118332
000195860 773__ $$j14$$k1$$q47-65$$tNetworks and Spatial Economics
000195860 909C0 $$0252123$$pTRANSP-OR$$xU11418
000195860 909CO $$ooai:infoscience.tind.io:195860$$particle$$pENAC
000195860 937__ $$aEPFL-ARTICLE-195860
000195860 970__ $$aIJ-HurtBier13/TRANSP-OR
000195860 973__ $$aEPFL$$rREVIEWED$$sPUBLISHED
000195860 980__ $$aARTICLE