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UQO Working Paper No. 11 — Half a million prices, twenty models: a systematic assessment of hedonic specifications.

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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,18.394879964095797,35.96893018809802,0.42358366884898346,0.4688087852186674,18.394879964095797,35.96893018809802,0.42358366884898346,0.4688087852186674,,,,0.4,411369,1028433A2 Semi-log,A. Functional form,19.40388065006023,33.60742551231478,0.3991437427562464,0.5283377491612558,18.459707672156842,35.527166516466494,0.40507307833118583,0.5142204489174887,1.0716280541158298,,,0.6,411369,1028434A3 Log-log,A. Functional form,18.04901279537473,31.62346448383144,0.38036202721805884,0.5716815568957894,17.060785648509054,33.08835585008513,0.3853279508875882,0.5604244841914658,1.0636869814479837,,,0.9,411369,1028435A4 Box-Cox,A. Functional form,18.24702711324504,34.006661029680444,0.3967848815219953,0.5338961387758547,17.86556740305991,35.46526823103805,0.40274905686877965,0.5197785744597814,,0.5,,4.4,411369,1028436A5 Semi-log + quadratics,A. Functional form,19.19420945605029,33.23478458992403,0.3946076985401183,0.5389971863448217,18.178626389812674,35.017880574991494,0.40026491744886666,0.5256842765856499,1.0696108179421064,,,0.6,411369,1028437A6 Semi-log + splines,A. Functional form,17.62071626632672,31.207237958155154,0.376000477877242,0.5814481534939215,16.60974843964176,32.54559297854598,0.38074837993673477,0.5708109860855053,1.0617470052055027,,,2.3,411369,1028438B1 No time effects,B. Time effects,21.649567560303716,35.80598610682794,0.4155121629945933,0.4888599034728587,20.805949301729967,38.19532183877957,0.4222433482128658,0.47216510031035164,1.078199634331365,,,0.5,411369,1028439B2 Year FE,B. Time effects,18.990446124535953,32.997820257572705,0.3921780438977923,0.5446566268137394,18.058282132701265,34.74906901015738,0.3977502821212147,0.5316252641639805,1.068487535996415,,,0.7,411369,10284310B3 Quarter FE,B. Time effects,19.19420945605029,33.23478458992403,0.3946076985401183,0.5389971863448217,18.178626389812674,35.017880574991494,0.40026491744886666,0.5256842765856499,1.0696108179421064,,,0.6,411369,10284311B4 Month FE,B. Time effects,19.332436660424253,33.33207533297025,0.3954934330533667,0.5369253343882607,18.402816630486033,35.160733297104976,0.40121192424899693,0.5234372068832924,1.0701374458919553,,,0.6,411369,10284312C1 No spatial controls,C. Spatial controls,28.887143937365718,44.050532124221256,0.4859586541235692,0.30084879639246065,28.095541551675375,48.734151973096715,0.49707893152453125,0.2684850929794075,1.1115281859261688,,,0.4,411369,10284313C2 Municipality FE,C. Spatial controls,19.19420945605029,33.23478458992403,0.3946076985401183,0.5389971863448217,18.178626389812674,35.017880574991494,0.40026491744886666,0.5256842765856499,1.0696108179421064,,,0.6,411369,10284314C3 Grid-cell FE (~5.5 km),C. Spatial controls,18.73260474151463,32.799326462608065,0.38980765046740884,0.5501443438715339,17.53502943411876,34.40695892966617,0.3952679237455016,0.5374532717263956,1.0671611573206463,,,0.7,411369,10284315C4 Grid-cell FE (~1.1 km),C. Spatial controls,21.097621825427847,35.95310914429783,0.4147863521944663,0.49064404850887544,19.553592455622823,37.9613459138871,0.4212809812757885,0.47456841574603015,1.0757010147272146,,,0.8,411369,10284316D1 OLS (muni + month FE),D. Estimation method,19.332436660424253,33.33207533297025,0.3954934330533667,0.5369253343882607,18.402816630486033,35.160733297104976,0.40121192424899693,0.5234372068832924,1.0701374458919553,,,0.6,411369,10284317D2 Ridge (cross-validated),D. Estimation method,17.70592620550421,31.251501981456574,0.3767730607223491,0.579726356784688,16.72857367165446,32.65172599817906,0.3815465570975194,0.569009649787606,1.062317122081801,,,10.2,411369,10284318D3 Random forest,D. Estimation method,14.622820199263606,28.743565661551727,0.3582854740346365,0.6199586341211347,13.749624355032527,29.092018626347237,0.3596181757160165,0.6171261233153971,1.0317651338894,,,9.2,411369,10284319D4 Gradient boosting,D. Estimation method,14.507935468925822,28.29190277596338,0.3525188079219081,0.6320938445206743,13.24585810355578,28.915575305176098,0.3556681265266408,0.6254909102009842,1.0478640275860414,,,43.0,411369,10284320"D5 Gradient boosting, no coordinates",D. Estimation method,23.41157162533723,38.73698634397927,0.44364203470006636,0.4173096237076285,22.212467734820184,41.63446817144011,0.4514086798765861,0.39672923483220146,1.0877176588778272,,,17.5,411369,10284321D6 Spatial k-NN comparables,D. Estimation method,21.308170377003776,37.246066218610544,0.43397656727509987,0.442422771348263,21.25721677508758,37.43458435469481,0.434126877127783,0.442036465398573,1.0066433972846687,,,0.3,411369,10284322
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