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UQO Working Paper No. 2 — Decoding Real Estate Descriptions: text-based hedonic analysis of housing listings.

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1% Author: Simon-Pierre Boucher — contact@spboucher.ai2% Generated by scripts/08_revision_tables.py — do not edit by hand.3\begin{table}[!htbp]4\centering5\caption{Semantic implicit price gradients (\% per standard deviation) across specifications and encoders.}6\label{tab:extended_specs}7\small8\begin{adjustbox}{max width=\textwidth}9\begin{tabular}{lR{1.5cm}R{1.5cm}R{1.8cm}R{1.6cm}R{1.6cm}R{1.9cm}}10\toprule11\textbf{Dimension} & \textbf{D} & \textbf{D-L} & \textbf{D-L + FSA FE} & \textbf{French only} & \textbf{English only} & \textbf{ML-D-L + FSA FE} \\12\midrule13Luxury & 14.2*** & 16.5*** & 10.7*** & 4.4*** & 7.6*** & 4.5** \\14Entry-Level & 10.4*** & 15.6*** & 9.7*** & 0.7 & 10.3*** & $-$4.9*** \\15Renovated & 5.1 & 5.8* & 9.5*** & 4.3*** & 5.0* & $-$5.6*** \\16Needs Renovation & $-$7.9*** & $-$4.6** & $-$3.6* & $-$0.6 & $-$3.7* & $-$4.5** \\17Bright \& Spacious & $-$8.9*** & $-$7.5*** & $-$4.4* & $-$3.0** & $-$1.8 & 3.5* \\18Land \& Nature & 13.0*** & 16.2*** & 15.2*** & 10.2*** & 11.1*** & 22.1*** \\19Panoramic View & 3.0** & $-$1.4 & $-$3.4* & 0.7 & $-$4.6*** & 0.3 \\20Premium Location & $-$6.1*** & $-$5.7*** & $-$12.6*** & $-$6.2*** & $-$4.5*** & $-$0.6 \\21Quiet \& Peaceful & $-$9.5*** & $-$12.8*** & $-$11.7*** & $-$9.4*** & $-$5.3*** & $-$6.0*** \\22Income/Investment & $-$3.1 & $-$4.7** & 2.9 & 2.1* & $-$1.6 & 4.7*** \\23Garage \& Parking & 1.9* & 3.3*** & 0.8 & 2.3*** & $-$1.4 & 6.0*** \\24Finished Basement & $-$3.6* & $-$5.4*** & $-$4.9*** & $-$3.4*** & 0.4 & $-$10.3*** \\25Modern/Contemporary & 16.4*** & 14.8*** & 9.3*** & 7.6*** & 3.1* & $-$0.2 \\26Heritage/Character & 1.0 & 1.8 & $-$2.6* & $-$1.1 & $-$3.6* & 4.3*** \\27Energy Efficient & $-$7.8*** & $-$6.1*** & $-$5.1*** & $-$2.0* & $-$3.9** & 1.8* \\28Motivated Seller & $-$8.5*** & $-$2.9 & $-$4.0* & $-$1.3 & $-$3.6* & 0.4 \\29Family-Friendly & $-$11.6*** & $-$7.8*** & $-$6.4*** & $-$2.4*** & $-$4.1*** & $-$7.4*** \\30Waterfront & 4.7*** & 8.1*** & 15.5*** & 4.9*** & 9.4*** & 0.2 \\31New Construction & $-$10.5*** & $-$12.1*** & $-$8.0*** & $-$6.2*** & $-$4.5** & 7.2*** \\32Pool \& Landscaping & 2.5 & 2.5 & 3.5* & 2.4** & 0.4 & $-$11.9*** \\33\midrule34$n$ & 17{,}087 & 17{,}087 & 17{,}087 & 9{,}843 & 6{,}779 & 17{,}087 \\35$R^2$ & 0.512 & 0.518 & 0.667 & 0.599 & 0.690 & 0.687 \\36$\Delta R^2$ (semantic block) & 0.047 & 0.017 & 0.020 & 0.029 & 0.024 & 0.039 \\37\bottomrule38\end{tabular}39\end{adjustbox}40\begin{minipage}{\textwidth}41\vspace{4pt}\footnotesize42\textit{Notes:} Entries are $100\,(e^{\hat\gamma_j} - 1)$ for a one-standard-deviation increase in similarity $j$ (standard deviation computed on the estimation sample). D is the baseline full model (HC3 standard errors); D-L adds English and mixed-language indicators (HC3); ``+ FSA FE'' absorbs 415 forward-sortation-area fixed effects with standard errors clustered by FSA; the French-only and English-only columns re-estimate D with FSA fixed effects on each language subsample; ML-D-L replaces the encoder by paraphrase-multilingual-MiniLM-L12-v2. \signote43\end{minipage}44\end{table}45
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