Bayesian Estimation of a Hedonic Price Function for the Uptown of Tehran
In this paper, we survey some effective factors affecting house prices in the uptown of Tehran city with using Bayesian econometric method. In this method, we use expert ideas as prior information which causes to effective and better estimations. In this paper, we use sell prices of 546 apartments i...
| Main Authors: | , |
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| Format: | Article |
| Language: | fas |
| Published: |
Allameh Tabataba'i University Press
2015-03-01
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| Series: | فصلنامه پژوهشهای اقتصادی ایران |
| Subjects: | |
| Online Access: | https://ijer.atu.ac.ir/article_2488_2e1f6386fd6165985b3223068097a7e4.pdf |
| _version_ | 1797369341858021376 |
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| author | Keyvan Shahab Lavasani Vida Varahrami |
| author_facet | Keyvan Shahab Lavasani Vida Varahrami |
| author_sort | Keyvan Shahab Lavasani |
| collection | DOAJ |
| description | In this paper, we survey some effective factors affecting house prices in the uptown of Tehran city with using Bayesian econometric method. In this method, we use expert ideas as prior information which causes to effective and better estimations. In this paper, we use sell prices of 546 apartments in the uptown of Tehran in 2014, these data are collected from real estates. We assume sale price of house to be dependent on the size of apartment, age of apartment, having pool, sauna and sport salon in the form of dummy variables. Results of this paper reveal that by using informative prior, an increase in the square meter of apartment causes 14 million and 500 thousands tomans increase in the house price. In our sample, an increase in house's age will cause a decline of almost 75 million tomans in the house price. In our sample, an increase in the age of house in the uptown of Tehran decline of almost 350000 tomans in price of one square meter of house. Our estimation results reveal that having pool, sauna and sport salon in the apartment will cause an increase of 420 million tomans in the house price. |
| first_indexed | 2024-03-08T17:46:23Z |
| format | Article |
| id | doaj.art-db567649df944bdebfb64b3520c5e881 |
| institution | Directory Open Access Journal |
| issn | 1726-0728 2476-6445 |
| language | fas |
| last_indexed | 2024-03-08T17:46:23Z |
| publishDate | 2015-03-01 |
| publisher | Allameh Tabataba'i University Press |
| record_format | Article |
| series | فصلنامه پژوهشهای اقتصادی ایران |
| spelling | doaj.art-db567649df944bdebfb64b3520c5e8812024-01-02T10:29:13ZfasAllameh Tabataba'i University Pressفصلنامه پژوهشهای اقتصادی ایران1726-07282476-64452015-03-012062315610.22054/ijer.2015.24882488Bayesian Estimation of a Hedonic Price Function for the Uptown of TehranKeyvan Shahab Lavasani0Vida Varahrami1دانشجوی دکتری اقتصاد دانشگاه تهراناستادیار دانشگاه شهید بهشتی (نویسنده مسئول)In this paper, we survey some effective factors affecting house prices in the uptown of Tehran city with using Bayesian econometric method. In this method, we use expert ideas as prior information which causes to effective and better estimations. In this paper, we use sell prices of 546 apartments in the uptown of Tehran in 2014, these data are collected from real estates. We assume sale price of house to be dependent on the size of apartment, age of apartment, having pool, sauna and sport salon in the form of dummy variables. Results of this paper reveal that by using informative prior, an increase in the square meter of apartment causes 14 million and 500 thousands tomans increase in the house price. In our sample, an increase in house's age will cause a decline of almost 75 million tomans in the house price. In our sample, an increase in the age of house in the uptown of Tehran decline of almost 350000 tomans in price of one square meter of house. Our estimation results reveal that having pool, sauna and sport salon in the apartment will cause an increase of 420 million tomans in the house price.https://ijer.atu.ac.ir/article_2488_2e1f6386fd6165985b3223068097a7e4.pdfdoing house pricebayesian econometricbayesian hedonics |
| spellingShingle | Keyvan Shahab Lavasani Vida Varahrami Bayesian Estimation of a Hedonic Price Function for the Uptown of Tehran فصلنامه پژوهشهای اقتصادی ایران doing house price bayesian econometric bayesian hedonics |
| title | Bayesian Estimation of a Hedonic Price Function for the Uptown of Tehran |
| title_full | Bayesian Estimation of a Hedonic Price Function for the Uptown of Tehran |
| title_fullStr | Bayesian Estimation of a Hedonic Price Function for the Uptown of Tehran |
| title_full_unstemmed | Bayesian Estimation of a Hedonic Price Function for the Uptown of Tehran |
| title_short | Bayesian Estimation of a Hedonic Price Function for the Uptown of Tehran |
| title_sort | bayesian estimation of a hedonic price function for the uptown of tehran |
| topic | doing house price bayesian econometric bayesian hedonics |
| url | https://ijer.atu.ac.ir/article_2488_2e1f6386fd6165985b3223068097a7e4.pdf |
| work_keys_str_mv | AT keyvanshahablavasani bayesianestimationofahedonicpricefunctionfortheuptownoftehran AT vidavarahrami bayesianestimationofahedonicpricefunctionfortheuptownoftehran |