Estimating patronization shares for urban retail centers: an extension of the Poisson gravity model

Article Abstract:

A technique based on a Poisson gravity model of shopping behavior and including both mall attributes and characteristics of individual shoppers is used to estimate patronization shares for a set of alternative retail locations. The model corrects for sample censoring that arises from survey design, and allows structural variation, without computational burden, in regression coefficients across alternative shopping destinations. The model indicates that retail center size affects patronization rates negatively, and is supplanted by the number of resident department stores as the attractiveness variable. The technique yields reliable estimates, as verified by using a holdout sample, and can be adapted to other applications, especially those seeking estimates of patronization probabilities.

Shopping, Shopping centers, Poisson processes

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Identification of preference parameters in hedonic models: consumer demands with nonlinear budgets

Article Abstract:

The problem of identifying hedonic model parameters for consumer demand is addressed through three basic questions: what information is sought in estimating a hedonic system; under what conditions preference parameters may be estimated; and whether or not solution of the identification problem is worth dealing with necessarily imposed restrictions. Hedonic system estimation is shown to be an attempt to recover consumer preference parameters. Benefits of recovering the parameters depend on their use and on whether the hedonic model is appropriate for valuing environmental amenities. A number of serious difficulties are found in employing the hedonic model for measuring welfare effects, even when all parameters are perfectly known.

Consumer preferences

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Market segmentation and valuing amenities with hedonic models: the case of hazardous waste sites

Article Abstract:

A hedonic property value model was used to estimate how residents valued being located near hazardous waste sites. The sample consisted of the sales prices of 2,182 suburban single-family homes in Boston from Nov 1977 to Mar 1981. The Brown-Durbin-Evans cusum of squares test was applied to the data. The results suggested that it was unlikely that the relationship between equilibrium prices and the homes' characteristics would be sufficiently described by a single, hedonic price function.

Prices and rates, Housing, Market segmentation, Public opinion, Hazardous waste sites

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