Summary
Rental guides have to provide information about “usual” rents that are paid for flats comparable in type, size, equipment, quality and location. At least in larger cities, traditional cross-classification tables have serious drawbacks. Model-based techniques of regression analysis with rent as the dependent variable are obvious alternatives in this situation. The statistician has to build a regression model that is simple, robust and easily interpretable, but also complex enough to reflect reality. In this paper, we first discuss some parametric regression approaches, including a model that has been used for the Munich’94 rental guide. We then proceed to semiparametric alternatives that are useful at least for exploratory data analysis and for the selection of adequate parametric models.
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References
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© 1998 Physica-Verlag Heidelberg
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Fahrmeir, L., Gieger, C., Klinger, A. (1998). Regression Approaches to Rental Guides. In: Galata, R., Küchenhoff, H. (eds) Econometrics in Theory and Practice. Physica-Verlag HD. https://doi.org/10.1007/978-3-642-47027-1_21
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DOI: https://doi.org/10.1007/978-3-642-47027-1_21
Publisher Name: Physica-Verlag HD
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