spb/wp11_uqo Public
UQO Working Paper No. 11 — Half a million prices, twenty models: a systematic assessment of hedonic specifications.
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1\begin{tabular}{lcc c cc}2\toprule3 & \multicolumn{2}{c}{Random holdout} & & \multicolumn{2}{c}{Forward-in-time} \\4\cmidrule{2-3}\cmidrule{5-6}5Model & MdAPE (\%) & $R^2_{\ln}$ & & MdAPE (\%) & $R^2_{\ln}$ \\6\midrule7A5 Semi-log + quadratics & 18.1 & 0.533 & & 20.5 & 0.479 \\8B4 Month FE & 18.3 & 0.529 & & 20.3 & 0.476 \\9C4 Grid-cell FE ($\sim$1.1 km) & 19.4 & 0.481 & & 22.1 & 0.400 \\10D1 OLS (muni + month FE) & 18.3 & 0.529 & & 20.3 & 0.476 \\11D2 Ridge (cross-validated) & 16.7 & 0.577 & & 19.5 & 0.515 \\12D3 Random forest & 14.6 & 0.631 & & 21.3 & 0.519 \\13D4 Gradient boosting & 14.4 & 0.642 & & 21.2 & 0.521 \\14D5 Gradient boosting, no coordinates & 23.2 & 0.426 & & 26.2 & 0.310 \\15D6 Spatial k-NN comparables & 21.2 & 0.434 & & 25.6 & 0.253 \\16\bottomrule17\end{tabular}