UQO Working Paper No. 11 — Half a million prices, twenty models: a systematic assessment of hedonic specifications.
1name,group,mdape,mape,rmse_ln,r2_ln,mdape_mean,mape_mean,rmse_ln_mean,r2_ln_mean,smear,lambda,best_iter,seconds,n_train,n_test2A1 Linear (levels),A. Functional form,18.389455311057525,35.77737768430297,0.42150872762642705,0.4729684614765287,18.389455311057525,35.77737768430297,0.42150872762642705,0.4729684614765287,,,,0.4,411263,1029493A2 Semi-log,A. Functional form,19.45406141657741,33.53341061653312,0.3982220564706349,0.5295926664345789,18.534228750178155,35.515597429659906,0.40458544391763035,0.5144388071443484,1.0716405125795019,,,0.6,411263,1029494A3 Log-log,A. Functional form,18.09423906311878,31.5648056784115,0.3795231689636993,0.5727323131971047,17.13689016366873,33.083726302727165,0.3848295353676579,0.5607009592529427,1.0637378029740763,,,0.8,411263,1029495A4 Box-Cox,A. Functional form,18.34720115572638,33.91816652516567,0.39588027012021865,0.5351089578471608,18.01369176345465,35.11846758212266,0.4005581443205167,0.5240573822295058,,0.5,,4.4,411263,1029496A5 Semi-log + quadratics,A. Functional form,19.047250871870013,32.633713129691856,0.38879112913610764,0.5516097539820513,18.060274251722916,34.383320754266194,0.39457920958428305,0.5381596654068279,1.0678021020773296,,,0.7,411263,1029497A6 Semi-log + splines,A. Functional form,17.84160255200089,31.17235135800901,0.375404013662821,0.5819566827043615,16.719953387602672,32.5440257224398,0.38032165138598156,0.5709325567849641,1.06173604546364,,,2.3,411263,1029498B1 No time effects,B. Time effects,22.020713610007295,36.07330397660628,0.41771180424287685,0.4824206287010825,21.320623105141713,38.615749714380435,0.42497748545191755,0.4642584779943505,1.0797929429062483,,,0.5,411263,1029499B2 Year FE,B. Time effects,19.216445989382176,33.21932498640056,0.3943360634939339,0.5387286770024654,18.306678366552863,35.06233519240754,0.4003352095717885,0.5245870163050035,1.069862710157588,,,0.7,411263,10294910B3 Quarter FE,B. Time effects,19.047250871870013,32.633713129691856,0.38879112913610764,0.5516097539820513,18.060274251722916,34.383320754266194,0.39457920958428305,0.5381596654068279,1.0678021020773296,,,0.7,411263,10294911B4 Month FE,B. Time effects,19.398625101840388,33.282018368201285,0.39485525067670135,0.537513247647079,18.49481494077501,35.151184915530756,0.40092705375610255,0.5231803031914969,1.070168533613627,,,0.6,411263,10294912C1 No spatial controls,C. Spatial controls,28.689547544675424,43.840616324962724,0.48386013502120434,0.30551455745412537,27.854471463760017,48.59662417250643,0.4957431862109964,0.27098415190902636,1.1117746881974258,,,0.5,411263,10294913C2 Municipality FE,C. Spatial controls,19.047250871870013,32.633713129691856,0.38879112913610764,0.5516097539820513,18.060274251722916,34.383320754266194,0.39457920958428305,0.5381596654068279,1.0678021020773296,,,0.7,411263,10294914C3 Grid-cell FE (~5.5 km),C. Spatial controls,18.750020280736805,32.64356649270374,0.38885559208588105,0.5514610522654697,17.681345309644815,34.2696279297555,0.3942232975475682,0.538992453333233,1.0671696493930205,,,0.7,411263,10294915C4 Grid-cell FE (~1.1 km),C. Spatial controls,20.225376123786642,34.842860847732275,0.40626236607303856,0.5104053661049823,18.962836326256582,36.70306684092424,0.41241718088755186,0.49545842259587813,1.0720020497888785,,,0.8,411263,10294916D1 OLS (muni + month FE),D. Estimation method,19.398625101840388,33.282018368201285,0.39485525067670135,0.537513247647079,18.49481494077501,35.151184915530756,0.40092705375610255,0.5231803031914969,1.070168533613627,,,0.6,411263,10294917D2 Ridge (cross-validated),D. Estimation method,17.890529516201568,31.251732783077244,0.3763885157696496,0.5797611590637215,16.8893677800818,32.68394222313682,0.3814143837676687,0.5684634391789163,1.0622804510287405,,,10.1,411263,10294918D3 Random forest,D. Estimation method,14.883188133292904,28.737382658558698,0.3573031529738494,0.6212983831644259,14.053333531225153,29.108973566446117,0.35869427463082987,0.6183437740317796,1.0318463155697535,,,8.4,411263,10294919D4 Gradient boosting,D. Estimation method,14.59794086326427,28.210269818504578,0.3511407425669361,0.6342486746266742,13.424406660101518,28.85748490533166,0.35438418409430017,0.6274606736319336,1.047165791723387,,,42.1,411263,10294920"D5 Gradient boosting, no coordinates",D. Estimation method,23.288069281216877,38.626422603992054,0.44226646657865465,0.4197816156316563,22.324919746724586,41.540491694908305,0.45047464198749365,0.39804481488791,1.086467333318932,,,20.8,411263,10294921D6 Spatial k-NN comparables,D. Estimation method,22.263894535107575,37.95804725523757,0.4404191782505073,0.4246184833703136,22.194183511129985,38.13596309275768,0.44042512037220527,0.42460295720693186,1.0066905499496188,,,0.3,411263,10294922