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首页> 外文期刊>Journal of Real Estate Research >Solving Old Puzzles with New Tricks: Addressing Endogeneity and Nonlinearity in Time-on-Market Research
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Solving Old Puzzles with New Tricks: Addressing Endogeneity and Nonlinearity in Time-on-Market Research

机译：用新技巧解决旧谜题：解决内部性和非线性在上市时间研究

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The most commonly used econometric models for time-on-market in housing studies force researchers into a tradeoff between problems of nonlinearity, which may be addressed with a hazard model, and endogeneity, which may be addressed with a two-stage least squares model. This study introduces two modeling approaches-two-stage predictor substitution and two-stage residual inclusion-into the real estate literature. Each approach is able to address both nonlinearity and endogeneity in a single specification. Fit statistics consistently prefer the new methodologies to either two-stage least squares or hazard models of time-on-market. In the current sample, several commonly observed results are changed using the newer, more appropriate models. Some commonly accepted results are reversed, while others are reinforced. In addition to being produced by a more econometrically sound technique, the new results have the added benefit of being almost universally more intuitively appealing than previous results.
机译：房屋研究时间最常用的经济学模型迫使研究人员进入非线性问题之间的权衡，这可以用危险模型和内能性来解决，这可以用两级最小二乘模型寻址。本研究介绍了两个建模方法 - 两级预测因子替代和两阶段残余纳入房地产文学。每种方法都能够在单个规范中解决非线性和内能性。拟合统计数据始终如一地更喜欢新的方法，对两级最小二乘或上市时间的危险模型。在当前的样本中，使用较新的更合适的模型来改变几种通常观察到的结果。一些常见的结果是逆转的，而其他结果则被加强。除了通过更莫制的声音技术产生的外，新结果还具有比以前的结果更直观地吸引的增加的好处。

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