Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 17 Jan 2018 My Price 5.00

Kiel and McClain

6    Using data from 1988 for houses sold in Andover, Massachusetts, from Kiel and McClain (1995), the following equation relates housing price (price) to the distance from a recently built garbage incinerator (dist):

ïž²log(price) 5 9.40 1 0.312 log(dist)

n 5 135, R2 5 0.162.

(i)       Interpret the coefficient on log(dist). Is the sign of this estimate what you expect it to be?

(ii)     Do you think simple regression provides an unbiased estimator of the ceteris paribus elasticity of price with respect to dist? (Think about the city’s decision on where to put the incinerator.)

(iii)    What other factors about a house affect its price? Might these be correlated with dis- tance from the incinerator?

 

 

Answers

Maurice Tutor
(5)
Status NEW Posted 17 Jan 2018 10:01 PM My Price 5.00

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