Baltagi, Badi H.; Bresson, Georges; Etienne, Jean-Michae - Center for Policy Research, Maxwell School - 2013
This paper estimates a hedonic housing model based on flats sold in the city of Paris over the period 1990-2003. This is done using maximum likelihood estimation taking into account the nested structure of the data. Paris is historically divided into 20 arrondissements, each divided into four...