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- Title
Comment: Semiparametric Estimates of the Marginal Price of Floorspace.
- Authors
Colwell, Peter F.
- Abstract
Theory indicates that the marginal price of floorspace must decline with increasing floorspace in the context of a hedonic model. The industry offer curves, their lower envelop, and the hedonic function must be concave because some elements of structure, notably exterior walls, increase at a slower rate than does floorspace. Coulson's finding to the contrary is probably attributable to an omitted variable problem
- Subjects
DIRECT costing; MARGINAL pricing; COST accounting; ABSORPTION costing; PRICING; OVERHEAD costs
- Publication
Journal of Real Estate Finance & Economics, 1993, Vol 7, Issue 1, p73
- ISSN
0895-5638
- Publication type
Article
- DOI
10.1007/BF01096937