UQO Working Paper No. 9 — A grand hedonic model of the Canadian housing market: decomposing structure and location value.
1\begin{table}[htbp]\centering2\caption{Living-area elasticity by size segment (piecewise-linear spline, grand model)}3\label{tab:spline}4\begin{threeparttable}5\begin{tabular}{lcc}6\toprule7Segment & Living area (m$^2$) & Elasticity \\8\midrule91 & 46--87 & \makecell{0.571\\\scriptsize(0.021)} \\102 & 87--113 & \makecell{0.650\\\scriptsize(0.021)} \\113 & 113--149 & \makecell{0.584\\\scriptsize(0.022)} \\124 & 149--209 & \makecell{0.409\\\scriptsize(0.017)} \\135 & 209--465 & \makecell{0.477\\\scriptsize(0.013)} \\14\midrule15$R^2$: linear / quadratic / spline & \multicolumn{2}{c}{0.7756 / 0.7765 / 0.7767} \\16\bottomrule17\end{tabular}18\begin{tablenotes}\footnotesize\item Notes: Linear spline in $\ln(\text{area})$ with knots at the quintiles of living area, all other grand-model controls and FSA fixed effects included. Each entry is the elasticity of price with respect to area within the segment; FSA-clustered standard errors in parentheses.19\end{tablenotes}20\end{threeparttable}21\end{table}22