무조건부 분위회귀를 이용한 아파트 가격결정요인 분석 - 양재천 인근 아파트를 중심으로 -
Analysis of Apartment Price Determinants using Unconditional Quantile Regression - Focused on Apartments near Yangjae Stream -
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In estimating the effect of housing characteristics on housing prices, the ordinary least squaresmethod has a limitation in that the result shows only a part of the influence on the conditionalmean price, so the conditional quantile regression has been used as an alternative to measure theeffect by price levels. However, the conditional quantile regression has a problem in which different price groups areconnected to each other. It is recognized that such a problem arises remarkably when theheteroskedasticity occurs or when the shape between conditional distribution and the unconditionaldistribution are different. In order to get more reasonable effects by price levels, we apply the unconditional quantileregression based on the recenterd influence function for apartments near Yangjae Stream in Seoul. The result shows that the price effect is more sensitive to surrounding amenity factors like YangjaeStream View, as it goes to expensive houses. This result is more consistent with common sensethan the result of other methods of analysis. It is also confirmed that the utility of traffic types likethe accessibility to subway stations may vary depending on the level of housing prices.
Abstract
In estimating the effect of housing characteristics on housing prices, the ordinary least squaresmethod has a limitation in that the result shows only a part of the influence on the conditionalmean price, so the conditional quantile regression has been used as an alternative to measure theeffect by price levels. However, the conditional quantile regression has a problem in which different price groups areconnected to each other. It is recognized that such a problem arises remarkably when theheteroskedasticity occurs or when the shape between conditional distribution and the unconditionaldistribution are different. In order to get more reasonable effects by price levels, we apply the unconditional quantileregression based on the recenterd influence function for apartments near Yangjae Stream in Seoul. The result shows that the price effect is more sensitive to surrounding amenity factors like YangjaeStream View, as it goes to expensive houses. This result is more consistent with common sensethan the result of other methods of analysis. It is also confirmed that the utility of traffic types likethe accessibility to subway stations may vary depending on the level of housing prices.
참고문헌 (27)
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