Household Expenditure Patterns for Housing Attributes: A Linear Expenditure System with Hedonic Prices |
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| Institution: | 1. Harold Simmons Center for Kidney Disease Research and Epidemiology, Division of Nephrology and Hypertension, University of California Irvine, School of Medicine, Orange, CA;2. Department of Pediatric Nephrology, Shengjing Hospital of China Medical University, Shenyang, China;3. David Geffen School of Medicine at UCLA, Los Angeles, CA;4. Division of Pediatric Nephrology, Mattel Children’s Hospital at UCLA, Los Angeles, CA;1. Department of Ultrasound, Shanghai Chest Hospital, Shanghai Jiao Tong University, Shanghai, China;2. Department of Pulmonary Medicine, Shanghai Chest Hospital, Shanghai Jiao Tong University, Shanghai, China;3. Department of Endoscopy, Shanghai Chest Hospital, Shanghai Jiao Tong University, Shanghai, China;1. School of Business, University of Alberta, Canada;2. Resource Economics and Environmental Sociology, Faculty of Agricultural, Life & Environmental Sciences, University of Alberta, Edmonton, AB, Canada T6G 2H1;3. Institute for Choice, University of South Australia, Australia;1. Graduate School of Agriculture, Kyoto University, Kitashirakawaoiwakecho, Sakyoku, Kyoto 606-8502, Japan;2. Zambia Agricultural Research Institute, Chilanga, Zambia;1. University at Albany, State University of New York, United States;2. Michigan State University, United States;1. Department of Metallurgical and Materials Engineering, Indian Institute of Technology Madras, Chennai 600036, India;2. School of Engineering, University of British Columbia—Okanagan, 3333 University Way, Kelowna V1 V 1V7, Canada |
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| Abstract: | The main objective of this research is to demonstrate a new approach to how income and own-price elasticities for housing attributes can be estimated. The methodology used is a combination of the hedonic technique and a complete system of household expenditures, which relies on an additive utility function. However, here we allow the utility parameters to vary with family size. The empirical results of a case study show that family size plays a significant role when estimating the elasticities. Furthermore, the housing attributes of living area and absence of traffic noise are more income elastic than those of lot size and indoor quality. All the income elasticities are positively correlated with income and family size but negatively with down payment. |
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