UQO Working Paper No. 11 — Half a million prices, twenty models: a systematic assessment of hedonic specifications.
1model,mdape_random_all,mdape_random_2025_26,mdape_forward_2025_26,n_random_2025_26,n_forward2A1 Linear (levels),18.247735441468322,17.09006288548948,20.369511213481317,31465,1583883A2 Semi-log,19.034569938583708,18.049772389120093,23.154885105735325,31465,1583884A3 Log-log,18.00422814105048,17.301575106616333,21.769614210046917,31465,1583885A4 Box-Cox,18.567718342220903,17.63772856887288,20.957181720703545,31465,1583886A5 Semi-log + quadratics,19.15743025152905,18.496565926231643,23.30291738895638,31465,1583887A6 Semi-log + splines,17.6216157169721,16.986964776398153,21.722504213272607,31465,1583888B1 No time effects,22.038141454991422,25.46195922621089,29.296772516609654,31465,1583889B2 Year FE,19.12497097548873,18.587477688637772,23.651696383010147,31465,15838810B3 Quarter FE,19.15743025152905,18.496565926231643,23.30291738895638,31465,15838811B4 Month FE,19.342062726308214,18.91583380701899,22.8719130040602,31465,15838812C1 No spatial controls,28.785665634746415,26.419945359140563,29.015774167241894,31465,15838813C2 Municipality FE,19.15743025152905,18.496565926231643,23.30291738895638,31465,15838814C3 Grid-cell FE (~5.5 km),18.703553400119855,18.261595423633086,24.2625431905187,31465,15838815C4 Grid-cell FE (~1.1 km),20.962941599826827,19.84981063507152,25.324930433263678,31465,15838816D1 OLS (muni + month FE),19.342062726308214,18.91583380701899,22.8719130040602,31465,15838817D2 Ridge (cross-validated),17.684559394393904,17.098506259471893,22.257318062238202,31465,15838818D3 Random forest,14.62750218203232,13.8581263765865,21.340119821052188,31465,15838819D4 Gradient boosting,14.388300681085338,13.704684482746913,21.21243467837447,31465,15838820"D5 Gradient boosting, no coordinates",23.225090677534933,20.99193671205706,26.207233073287274,31465,15838821D6 Spatial k-NN comparables,21.18226600985226,22.55888464294253,25.63120139114109,31465,15838822