{
 "record_id": "bc5c2c3c86f1f45909dcce75c8f09acff914dd28",
 "eligible": true,
 "exclusion_reason": null,
 "study": {
  "title": "Toward transparent and accurate housing price appraisal: Hedonic price models versus machine learning algorithms",
  "year": 2025,
  "doi": "10.1186/s40854-025-00874-w",
  "country": "South Korea",
  "region_city": "Busan",
  "sample_start": 2015,
  "sample_end": 2015,
  "property_type": "condo_apartment",
  "price_type": "transaction",
  "data_source": "Hedonic dataset of Song et al. (2021): condominium transactions in Busan, 2015 (61,152 observations, 17 variables)",
  "document_type": "journal",
  "estimators": [
   "OLS",
   "spatial_lag"
  ],
  "spatial_method": "Spatial lag regression (inverse-distance band W, row-standardised)",
  "time_fe": false,
  "location_fe": false,
  "se_type": "unknown",
  "n_obs_total": 61152,
  "ai_methods": [
   "random forest",
   "deep neural network",
   "SHAP",
   "Gini importance",
   "permutation importance"
  ],
  "notes": "Main purpose is AVM accuracy comparison (OLS, SLR, RF, DNN; RMSE/R2 in Fig. 3 and Table 12: OLS R2 0.653, SLR 0.651, RF 0.939, DNN 0.681/0.850 scaled). Table 6 prints OLS and SLR coefficients only with '\u2021' (1% significance) and no standard errors, so SEs are null. Seasonal dummies (Spring/Fall/Winter) extracted as transaction_timing. Kaggle (Ames) benchmark analysis reports RMSE only."
 },
 "models": [
  {
   "model_id": "T6-c1",
   "table": "6",
   "column": "1",
   "page": 16,
   "dep_var": "ln transacted condominium price",
   "dep_transform": "log",
   "estimator": "OLS",
   "n_obs": 61152,
   "r2": null,
   "se_or_t_in_parentheses": "none",
   "sample_subset": "OLS hedonic price model, Busan condominium transactions 2015 (dataset of Song et al. 2021); Table 6 reports coefficients with '\u2021' = significant at 1% only, no SE/t; unclear whether estimated on the full sample (61,152) or the 70% training split; seasonal dummies included (Spring/Fall/Winter)"
  },
  {
   "model_id": "T6-c2",
   "table": "6",
   "column": "2",
   "page": 16,
   "dep_var": "ln transacted condominium price",
   "dep_transform": "log",
   "estimator": "spatial_lag",
   "n_obs": 61152,
   "r2": null,
   "se_or_t_in_parentheses": "none",
   "sample_subset": "SLR hedonic price model, Busan condominium transactions 2015 (dataset of Song et al. 2021); Table 6 reports coefficients with '\u2021' = significant at 1% only, no SE/t; unclear whether estimated on the full sample (61,152) or the 70% training split; seasonal dummies included (Spring/Fall/Winter)"
  }
 ],
 "coefficients": [
  {
   "model_id": "T6-c1",
   "var_name_printed": "Higher degree",
   "taxonomy_id": "education_level",
   "x_transform": "level",
   "x_unit": "share",
   "beta": 0.011,
   "se": null,
   "t": null,
   "p": null,
   "p_stars": "\u2021",
   "ci_lo": null,
   "ci_hi": null,
   "page": 16,
   "confidence": "medium",
   "notes": "Ratio (%) of residents aged 15+ with a higher degree; '\u2021' indicates significance at the 1% level; no SE or t printed; coefficients rounded to 3 decimals (scientific notation for small ones)"
  },
  {
   "model_id": "T6-c2",
   "var_name_printed": "Higher degree",
   "taxonomy_id": "education_level",
   "x_transform": "level",
   "x_unit": "share",
   "beta": 0.011,
   "se": null,
   "t": null,
   "p": null,
   "p_stars": "\u2021",
   "ci_lo": null,
   "ci_hi": null,
   "page": 16,
   "confidence": "medium",
   "notes": "Ratio (%) of residents aged 15+ with a higher degree; '\u2021' indicates significance at the 1% level; no SE or t printed; coefficients rounded to 3 decimals (scientific notation for small ones)"
  },
  {
   "model_id": "T6-c1",
   "var_name_printed": "Year",
   "taxonomy_id": "age",
   "x_transform": "other",
   "x_unit": "years",
   "beta": 0.011,
   "se": null,
   "t": null,
   "p": null,
   "p_stars": "\u2021",
   "ci_lo": null,
   "ci_hi": null,
   "page": 16,
   "confidence": "medium",
   "notes": "Construction year of the apartment (year built, not age; positive sign = newer buildings dearer); '\u2021' indicates significance at the 1% level; no SE or t printed; coefficients rounded to 3 decimals (scientific notation for small ones)"
  },
  {
   "model_id": "T6-c2",
   "var_name_printed": "Year",
   "taxonomy_id": "age",
   "x_transform": "other",
   "x_unit": "years",
   "beta": 0.011,
   "se": null,
   "t": null,
   "p": null,
   "p_stars": "\u2021",
   "ci_lo": null,
   "ci_hi": null,
   "page": 16,
   "confidence": "medium",
   "notes": "Construction year of the apartment (year built, not age; positive sign = newer buildings dearer); '\u2021' indicates significance at the 1% level; no SE or t printed; coefficients rounded to 3 decimals (scientific notation for small ones)"
  },
  {
   "model_id": "T6-c1",
   "var_name_printed": "Parking",
   "taxonomy_id": "parking",
   "x_transform": "level",
   "x_unit": "count",
   "beta": 0.168,
   "se": null,
   "t": null,
   "p": null,
   "p_stars": "\u2021",
   "ci_lo": null,
   "ci_hi": null,
   "page": 16,
   "confidence": "medium",
   "notes": "Parking spaces per household in the complex; '\u2021' indicates significance at the 1% level; no SE or t printed; coefficients rounded to 3 decimals (scientific notation for small ones)"
  },
  {
   "model_id": "T6-c2",
   "var_name_printed": "Parking",
   "taxonomy_id": "parking",
   "x_transform": "level",
   "x_unit": "count",
   "beta": 0.168,
   "se": null,
   "t": null,
   "p": null,
   "p_stars": "\u2021",
   "ci_lo": null,
   "ci_hi": null,
   "page": 16,
   "confidence": "medium",
   "notes": "Parking spaces per household in the complex; '\u2021' indicates significance at the 1% level; no SE or t printed; coefficients rounded to 3 decimals (scientific notation for small ones)"
  },
  {
   "model_id": "T6-c1",
   "var_name_printed": "Area",
   "taxonomy_id": "living_area",
   "x_transform": "level",
   "x_unit": "m2",
   "beta": -0.002,
   "se": null,
   "t": null,
   "p": null,
   "p_stars": "\u2021",
   "ci_lo": null,
   "ci_hi": null,
   "page": 16,
   "confidence": "medium",
   "notes": "Unit size in m2 (negative coefficient as printed); '\u2021' indicates significance at the 1% level; no SE or t printed; coefficients rounded to 3 decimals (scientific notation for small ones)"
  },
  {
   "model_id": "T6-c2",
   "var_name_printed": "Area",
   "taxonomy_id": "living_area",
   "x_transform": "level",
   "x_unit": "m2",
   "beta": -0.002,
   "se": null,
   "t": null,
   "p": null,
   "p_stars": "\u2021",
   "ci_lo": null,
   "ci_hi": null,
   "page": 16,
   "confidence": "medium",
   "notes": "Unit size in m2 (negative coefficient as printed); '\u2021' indicates significance at the 1% level; no SE or t printed; coefficients rounded to 3 decimals (scientific notation for small ones)"
  },
  {
   "model_id": "T6-c1",
   "var_name_printed": "Households",
   "taxonomy_id": "other",
   "x_transform": "level",
   "x_unit": "count",
   "beta": 5.4e-05,
   "se": null,
   "t": null,
   "p": null,
   "p_stars": "\u2021",
   "ci_lo": null,
   "ci_hi": null,
   "page": 16,
   "confidence": "medium",
   "notes": "Number of households in the apartment complex; '\u2021' indicates significance at the 1% level; no SE or t printed; coefficients rounded to 3 decimals (scientific notation for small ones)"
  },
  {
   "model_id": "T6-c2",
   "var_name_printed": "Households",
   "taxonomy_id": "other",
   "x_transform": "level",
   "x_unit": "count",
   "beta": 5.4e-05,
   "se": null,
   "t": null,
   "p": null,
   "p_stars": "\u2021",
   "ci_lo": null,
   "ci_hi": null,
   "page": 16,
   "confidence": "medium",
   "notes": "Number of households in the apartment complex; '\u2021' indicates significance at the 1% level; no SE or t printed; coefficients rounded to 3 decimals (scientific notation for small ones)"
  },
  {
   "model_id": "T6-c1",
   "var_name_printed": "CBD",
   "taxonomy_id": "cbd_distance",
   "x_transform": "level",
   "x_unit": "m",
   "beta": -1e-05,
   "se": null,
   "t": null,
   "p": null,
   "p_stars": "\u2021",
   "ci_lo": null,
   "ci_hi": null,
   "page": 16,
   "confidence": "medium",
   "notes": "Network distance to city hall (CBD) in metres; '\u2021' indicates significance at the 1% level; no SE or t printed; coefficients rounded to 3 decimals (scientific notation for small ones)"
  },
  {
   "model_id": "T6-c2",
   "var_name_printed": "CBD",
   "taxonomy_id": "cbd_distance",
   "x_transform": "level",
   "x_unit": "m",
   "beta": -1e-05,
   "se": null,
   "t": null,
   "p": null,
   "p_stars": "\u2021",
   "ci_lo": null,
   "ci_hi": null,
   "page": 16,
   "confidence": "medium",
   "notes": "Network distance to city hall (CBD) in metres; '\u2021' indicates significance at the 1% level; no SE or t printed; coefficients rounded to 3 decimals (scientific notation for small ones)"
  },
  {
   "model_id": "T6-c1",
   "var_name_printed": "Floor",
   "taxonomy_id": "floor_level",
   "x_transform": "level",
   "x_unit": "count",
   "beta": 0.005,
   "se": null,
   "t": null,
   "p": null,
   "p_stars": "\u2021",
   "ci_lo": null,
   "ci_hi": null,
   "page": 16,
   "confidence": "medium",
   "notes": "Floor level of the unit; '\u2021' indicates significance at the 1% level; no SE or t printed; coefficients rounded to 3 decimals (scientific notation for small ones)"
  },
  {
   "model_id": "T6-c2",
   "var_name_printed": "Floor",
   "taxonomy_id": "floor_level",
   "x_transform": "level",
   "x_unit": "count",
   "beta": 0.005,
   "se": null,
   "t": null,
   "p": null,
   "p_stars": "\u2021",
   "ci_lo": null,
   "ci_hi": null,
   "page": 16,
   "confidence": "medium",
   "notes": "Floor level of the unit; '\u2021' indicates significance at the 1% level; no SE or t printed; coefficients rounded to 3 decimals (scientific notation for small ones)"
  },
  {
   "model_id": "T6-c1",
   "var_name_printed": "Greenspace",
   "taxonomy_id": "green_space",
   "x_transform": "log",
   "x_unit": "m",
   "beta": 0.03,
   "se": null,
   "t": null,
   "p": null,
   "p_stars": "\u2021",
   "ci_lo": null,
   "ci_hi": null,
   "page": 16,
   "confidence": "medium",
   "notes": "log network distance (m) to nearest park, hill or mountain (positive sign as printed); '\u2021' indicates significance at the 1% level; no SE or t printed; coefficients rounded to 3 decimals (scientific notation for small ones)"
  },
  {
   "model_id": "T6-c2",
   "var_name_printed": "Greenspace",
   "taxonomy_id": "green_space",
   "x_transform": "log",
   "x_unit": "m",
   "beta": 0.031,
   "se": null,
   "t": null,
   "p": null,
   "p_stars": "\u2021",
   "ci_lo": null,
   "ci_hi": null,
   "page": 16,
   "confidence": "medium",
   "notes": "log network distance (m) to nearest park, hill or mountain (positive sign as printed); '\u2021' indicates significance at the 1% level; no SE or t printed; coefficients rounded to 3 decimals (scientific notation for small ones)"
  },
  {
   "model_id": "T6-c1",
   "var_name_printed": "Waterfront",
   "taxonomy_id": "water_proximity",
   "x_transform": "log",
   "x_unit": "m",
   "beta": -0.02,
   "se": null,
   "t": null,
   "p": null,
   "p_stars": "\u2021",
   "ci_lo": null,
   "ci_hi": null,
   "page": 16,
   "confidence": "medium",
   "notes": "log network distance (m) to nearest river, stream, pond or seashore; '\u2021' indicates significance at the 1% level; no SE or t printed; coefficients rounded to 3 decimals (scientific notation for small ones)"
  },
  {
   "model_id": "T6-c2",
   "var_name_printed": "Waterfront",
   "taxonomy_id": "water_proximity",
   "x_transform": "log",
   "x_unit": "m",
   "beta": -0.02,
   "se": null,
   "t": null,
   "p": null,
   "p_stars": "\u2021",
   "ci_lo": null,
   "ci_hi": null,
   "page": 16,
   "confidence": "medium",
   "notes": "log network distance (m) to nearest river, stream, pond or seashore; '\u2021' indicates significance at the 1% level; no SE or t printed; coefficients rounded to 3 decimals (scientific notation for small ones)"
  },
  {
   "model_id": "T6-c1",
   "var_name_printed": "Subway",
   "taxonomy_id": "transit_distance",
   "x_transform": "log",
   "x_unit": "m",
   "beta": -0.016,
   "se": null,
   "t": null,
   "p": null,
   "p_stars": "\u2021",
   "ci_lo": null,
   "ci_hi": null,
   "page": 16,
   "confidence": "medium",
   "notes": "log network distance (m) to nearest subway station; '\u2021' indicates significance at the 1% level; no SE or t printed; coefficients rounded to 3 decimals (scientific notation for small ones)"
  },
  {
   "model_id": "T6-c2",
   "var_name_printed": "Subway",
   "taxonomy_id": "transit_distance",
   "x_transform": "log",
   "x_unit": "m",
   "beta": -0.016,
   "se": null,
   "t": null,
   "p": null,
   "p_stars": "\u2021",
   "ci_lo": null,
   "ci_hi": null,
   "page": 16,
   "confidence": "medium",
   "notes": "log network distance (m) to nearest subway station; '\u2021' indicates significance at the 1% level; no SE or t printed; coefficients rounded to 3 decimals (scientific notation for small ones)"
  },
  {
   "model_id": "T6-c1",
   "var_name_printed": "Top school",
   "taxonomy_id": "school_quality",
   "x_transform": "level",
   "x_unit": "count",
   "beta": -0.006,
   "se": null,
   "t": null,
   "p": null,
   "p_stars": "\u2021",
   "ci_lo": null,
   "ci_hi": null,
   "page": 16,
   "confidence": "medium",
   "notes": "Number of Seoul National University entrants from high schools within 5 km; '\u2021' indicates significance at the 1% level; no SE or t printed; coefficients rounded to 3 decimals (scientific notation for small ones)"
  },
  {
   "model_id": "T6-c2",
   "var_name_printed": "Top school",
   "taxonomy_id": "school_quality",
   "x_transform": "level",
   "x_unit": "count",
   "beta": -0.006,
   "se": null,
   "t": null,
   "p": null,
   "p_stars": "\u2021",
   "ci_lo": null,
   "ci_hi": null,
   "page": 16,
   "confidence": "medium",
   "notes": "Number of Seoul National University entrants from high schools within 5 km; '\u2021' indicates significance at the 1% level; no SE or t printed; coefficients rounded to 3 decimals (scientific notation for small ones)"
  },
  {
   "model_id": "T6-c1",
   "var_name_printed": "Spring",
   "taxonomy_id": "transaction_timing",
   "x_transform": "binary",
   "x_unit": "binary",
   "beta": -0.03,
   "se": null,
   "t": null,
   "p": null,
   "p_stars": "\u2021",
   "ci_lo": null,
   "ci_hi": null,
   "page": 16,
   "confidence": "medium",
   "notes": "Seasonal dummy (March-May); '\u2021' indicates significance at the 1% level; no SE or t printed; coefficients rounded to 3 decimals (scientific notation for small ones)"
  },
  {
   "model_id": "T6-c2",
   "var_name_printed": "Spring",
   "taxonomy_id": "transaction_timing",
   "x_transform": "binary",
   "x_unit": "binary",
   "beta": -0.03,
   "se": null,
   "t": null,
   "p": null,
   "p_stars": "\u2021",
   "ci_lo": null,
   "ci_hi": null,
   "page": 16,
   "confidence": "medium",
   "notes": "Seasonal dummy (March-May); '\u2021' indicates significance at the 1% level; no SE or t printed; coefficients rounded to 3 decimals (scientific notation for small ones)"
  },
  {
   "model_id": "T6-c1",
   "var_name_printed": "Fall",
   "taxonomy_id": "transaction_timing",
   "x_transform": "binary",
   "x_unit": "binary",
   "beta": 0.021,
   "se": null,
   "t": null,
   "p": null,
   "p_stars": "\u2021",
   "ci_lo": null,
   "ci_hi": null,
   "page": 16,
   "confidence": "medium",
   "notes": "Seasonal dummy (September-November); '\u2021' indicates significance at the 1% level; no SE or t printed; coefficients rounded to 3 decimals (scientific notation for small ones)"
  },
  {
   "model_id": "T6-c2",
   "var_name_printed": "Fall",
   "taxonomy_id": "transaction_timing",
   "x_transform": "binary",
   "x_unit": "binary",
   "beta": 0.022,
   "se": null,
   "t": null,
   "p": null,
   "p_stars": "\u2021",
   "ci_lo": null,
   "ci_hi": null,
   "page": 16,
   "confidence": "medium",
   "notes": "Seasonal dummy (September-November); '\u2021' indicates significance at the 1% level; no SE or t printed; coefficients rounded to 3 decimals (scientific notation for small ones)"
  },
  {
   "model_id": "T6-c1",
   "var_name_printed": "Winter",
   "taxonomy_id": "transaction_timing",
   "x_transform": "binary",
   "x_unit": "binary",
   "beta": -0.026,
   "se": null,
   "t": null,
   "p": null,
   "p_stars": "\u2021",
   "ci_lo": null,
   "ci_hi": null,
   "page": 16,
   "confidence": "medium",
   "notes": "Seasonal dummy (December-February); '\u2021' indicates significance at the 1% level; no SE or t printed; coefficients rounded to 3 decimals (scientific notation for small ones)"
  },
  {
   "model_id": "T6-c2",
   "var_name_printed": "Winter",
   "taxonomy_id": "transaction_timing",
   "x_transform": "binary",
   "x_unit": "binary",
   "beta": -0.026,
   "se": null,
   "t": null,
   "p": null,
   "p_stars": "\u2021",
   "ci_lo": null,
   "ci_hi": null,
   "page": 16,
   "confidence": "medium",
   "notes": "Seasonal dummy (December-February); '\u2021' indicates significance at the 1% level; no SE or t printed; coefficients rounded to 3 decimals (scientific notation for small ones)"
  },
  {
   "model_id": "T6-c1",
   "var_name_printed": "Pop. density",
   "taxonomy_id": "density",
   "x_transform": "level",
   "x_unit": "per_km2",
   "beta": 2e-06,
   "se": null,
   "t": null,
   "p": null,
   "p_stars": "\u2021",
   "ci_lo": null,
   "ci_hi": null,
   "page": 16,
   "confidence": "medium",
   "notes": "People per km2; '\u2021' indicates significance at the 1% level; no SE or t printed; coefficients rounded to 3 decimals (scientific notation for small ones)"
  },
  {
   "model_id": "T6-c2",
   "var_name_printed": "Pop. density",
   "taxonomy_id": "density",
   "x_transform": "level",
   "x_unit": "per_km2",
   "beta": 2e-06,
   "se": null,
   "t": null,
   "p": null,
   "p_stars": "\u2021",
   "ci_lo": null,
   "ci_hi": null,
   "page": 16,
   "confidence": "medium",
   "notes": "People per km2; '\u2021' indicates significance at the 1% level; no SE or t printed; coefficients rounded to 3 decimals (scientific notation for small ones)"
  },
  {
   "model_id": "T6-c1",
   "var_name_printed": "Heating type",
   "taxonomy_id": "heating",
   "x_transform": "binary",
   "x_unit": "binary",
   "beta": -0.009,
   "se": null,
   "t": null,
   "p": null,
   "p_stars": "\u2021",
   "ci_lo": null,
   "ci_hi": null,
   "page": 16,
   "confidence": "medium",
   "notes": "1 = city gas heating, 0 otherwise; '\u2021' indicates significance at the 1% level; no SE or t printed; coefficients rounded to 3 decimals (scientific notation for small ones)"
  },
  {
   "model_id": "T6-c2",
   "var_name_printed": "Heating type",
   "taxonomy_id": "heating",
   "x_transform": "binary",
   "x_unit": "binary",
   "beta": -0.007,
   "se": null,
   "t": null,
   "p": null,
   "p_stars": "\u2021",
   "ci_lo": null,
   "ci_hi": null,
   "page": 16,
   "confidence": "medium",
   "notes": "1 = city gas heating, 0 otherwise; '\u2021' indicates significance at the 1% level; no SE or t printed; coefficients rounded to 3 decimals (scientific notation for small ones)"
  },
  {
   "model_id": "T6-c1",
   "var_name_printed": "Bus count",
   "taxonomy_id": "transit_distance",
   "x_transform": "level",
   "x_unit": "count",
   "beta": 0.00058,
   "se": null,
   "t": null,
   "p": null,
   "p_stars": "\u2021",
   "ci_lo": null,
   "ci_hi": null,
   "page": 16,
   "confidence": "medium",
   "notes": "Number of bus stops within 400 m (count, not distance); '\u2021' indicates significance at the 1% level; no SE or t printed; coefficients rounded to 3 decimals (scientific notation for small ones)"
  },
  {
   "model_id": "T6-c2",
   "var_name_printed": "Bus count",
   "taxonomy_id": "transit_distance",
   "x_transform": "level",
   "x_unit": "count",
   "beta": 0.00057,
   "se": null,
   "t": null,
   "p": null,
   "p_stars": "\u2021",
   "ci_lo": null,
   "ci_hi": null,
   "page": 16,
   "confidence": "medium",
   "notes": "Number of bus stops within 400 m (count, not distance); '\u2021' indicates significance at the 1% level; no SE or t printed; coefficients rounded to 3 decimals (scientific notation for small ones)"
  }
 ]
}