C F Sirmans
Biographic Data
| ID | 5850245 |
|---|---|
| NAME | C F Sirmans |
| GIVEN NAMES | C F |
| FAMILY NAME | Sirmans |
| SIGNATURE | SIRMANS C F |
| AFFILIATIONS | University of Connecticut |
| VERIFIED | No |
| TOTAL WORKS | 28 |
| TOTAL CITATIONS | 94 |
| AUTHOR COUNT | 28 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 1977 |
| LATEST PUBLICATION YEAR | 2007 |
| H-INDEX | 6 |
Depreciation of housing capital, maintenance, and house price inflation
Gradients in Spatial Response Surfaces With Application to Urban Land Values
For point-referenced spatial data, we often create explanatory models that introduce regression structure with error consisting of a spatial term and a white noise term. Here we consider more flexible regression structures that allow spatially varying regression coefficients. The resulting mean becomes a spatial response surface that is a linear combination of the components of the spatially varying coefficient vector. Of possible interest in thi…
Spatial Modeling of House Prices Using Normalized Distance-Weighted Sums of Stationary Processes
Hedonic models are used almost universally for modeling house prices. Recognizing the importance of location, the past decade has seen increasing effort to introduce spatial considerations into such modeling. When spatial process models are used to capture association between locations, isotropic specifications have been used almost exclusively despite the fact that they seem unlikely to be appropriate in practice. The contribution of this articl…
Estimating Bargaining Power in the Market for Existing Homes
Although bargaining is common in markets for heterogeneous goods, it has largely been ignored in the hedonic literature. In a break from that tradition, we establish sufficient conditions that permit one to identify the effect of buyer and seller bargaining on hedonic models. Our model is estimated using a previously overlooked feature of the American Housing Survey that permits us to observe characteristics of both buyers and sellers. Results su…
The Dynamic Effects of Land Title Systems
The Mistaken Improver Problem
Spatio-Temporal Modeling of Residential Sales Data
This article focuses on the location, time, and spatio-temporal components associated with suitably aggregated data to improve prediction of individual asset values. Such effects are introduced in the context of hierarchical models, which we find more natural than attempting to model covariance structure. Indeed, our cross-sectional database, a sample of 7,936 transactions for 49 subdivisions over a 10-year period in Baton Rouge, Louisiana, precl…
Estimating Capital Asset Price Indexes
This paper introduces an improved procedure for estimating capital asset price indexes. We jointly estimate conventional hedonic and repeat sales models via maximum-likelihood procedures, thereby taking advantage of the unique features of the individual models and using all the data that are available. Our model captures depreciation within the repeat sales model and accounts for serial correlation in hedonic data. The improvement in precision ob…
Brokerage Pricing under Competition
Gains from Corporate Headquarters Relocations
A Comment on Zoning, Returns to Scale, and the Value of Undeveloped Land
This paper revisits the relationship between land value and parcel size. The authors demonstrate that, using a simple arbitrage equilibrium argument, the value-size relationship is convex (concave) whenever land assembly (subdivision) is possible. They also explore further the impact of zoning on market outcomes. Copyright 1993 by MIT Press
Estimation of Hedonic Housing Price Models Using Nonsample Information
Hedonic prices and contractual contingencies
Price discrimination in shopping center leases
Natural office vacancy rates
Measuring welfare effects of “unbundling” financial innovations
Rents, Selling Prices and Financing Premiums
This paper examines the effects of below-market financing on rents and selling prices of residential income properties. A recursive model is used to estimate rent and price equations in order to determine the effect of favourable financing on each variable. The results indicate that below-market financing has a negative effect on rent and a positive effect on selling price. Average monthly rent per unit with below-market financing is about $43 le…
A theory and empirical test of land option pricing
Flood insurance, wealth redistribution, and urban property values
Price adjustment process for rental office space
Creative Financing, House Prices, and Property Tax Inequities
This paper examines the distortions in house prices caused by the use of creative financing and the horizontal and vertical inequities in property tax assessments that can result if the proper adjustment of prices for financing is not made. The results show that horizontal inequities exist across financing alternatives (i.e., between conventional and assumption financing). The results also indicate vertical inequities in house prices since the am…
Changes in urban land values
Technological change and economic growth in housing
The intensity of residential land use in Accra, Ghana
Nonlinear Urban Land Prices
Urban land value functions and the price elasticity of demand for housing
Depreciation of housing capital, maintenance, and house price inflation
The Dynamic Effects of Land Title Systems
The elasticity of substitution in urban housing production
Nonlinear Urban Land Prices
Flood insurance, wealth redistribution, and urban property values
Price adjustment process for rental office space
Gains from Corporate Headquarters Relocations
Technological change and economic growth in housing
The intensity of residential land use in Accra, Ghana
Brokerage Pricing under Competition
Estimation of Hedonic Housing Price Models Using Nonsample Information
Hedonic prices and contractual contingencies
Price discrimination in shopping center leases
Natural office vacancy rates
City Size and Unemployment
Urban land value functions and the price elasticity of demand for housing
The elasticity of substitution in urban housing production
Nonlinear Urban Land Prices
The intensity of residential land use in Accra, Ghana
Technological change and economic growth in housing
Changes in urban land values
Price adjustment process for rental office space
Creative Financing, House Prices, and Property Tax Inequities
This paper examines the distortions in house prices caused by the use of creative financing and the horizontal and vertical inequities in property tax assessments that can result if the proper adjustment of prices for financing is not made. The results show that horizontal inequities exist across financing alternatives (i.e., between conventional and assumption financing). The results also indicate vertical inequities in house prices since the am…
Flood insurance, wealth redistribution, and urban property values
A theory and empirical test of land option pricing
Rents, Selling Prices and Financing Premiums
This paper examines the effects of below-market financing on rents and selling prices of residential income properties. A recursive model is used to estimate rent and price equations in order to determine the effect of favourable financing on each variable. The results indicate that below-market financing has a negative effect on rent and a positive effect on selling price. Average monthly rent per unit with below-market financing is about $43 le…
Hedonic prices and contractual contingencies
Price discrimination in shopping center leases
Natural office vacancy rates
Measuring welfare effects of “unbundling” financial innovations
A Comment on Zoning, Returns to Scale, and the Value of Undeveloped Land
This paper revisits the relationship between land value and parcel size. The authors demonstrate that, using a simple arbitrage equilibrium argument, the value-size relationship is convex (concave) whenever land assembly (subdivision) is possible. They also explore further the impact of zoning on market outcomes. Copyright 1993 by MIT Press
Estimation of Hedonic Housing Price Models Using Nonsample Information
Gains from Corporate Headquarters Relocations
Estimating Capital Asset Price Indexes
This paper introduces an improved procedure for estimating capital asset price indexes. We jointly estimate conventional hedonic and repeat sales models via maximum-likelihood procedures, thereby taking advantage of the unique features of the individual models and using all the data that are available. Our model captures depreciation within the repeat sales model and accounts for serial correlation in hedonic data. The improvement in precision ob…
Brokerage Pricing under Competition
Spatio-Temporal Modeling of Residential Sales Data
This article focuses on the location, time, and spatio-temporal components associated with suitably aggregated data to improve prediction of individual asset values. Such effects are introduced in the context of hierarchical models, which we find more natural than attempting to model covariance structure. Indeed, our cross-sectional database, a sample of 7,936 transactions for 49 subdivisions over a 10-year period in Baton Rouge, Louisiana, precl…
The Mistaken Improver Problem
The Dynamic Effects of Land Title Systems
Estimating Bargaining Power in the Market for Existing Homes
Although bargaining is common in markets for heterogeneous goods, it has largely been ignored in the hedonic literature. In a break from that tradition, we establish sufficient conditions that permit one to identify the effect of buyer and seller bargaining on hedonic models. Our model is estimated using a previously overlooked feature of the American Housing Survey that permits us to observe characteristics of both buyers and sellers. Results su…
Housing Market and Economics (26 works) · Economics (25 works) · Econometrics (13 works) · Microeconomics (12 works) · Business (11 works) · Geography (11 works) · Computer Science (9 works) · Finance (8 works) · Finance (8 works) · Mathematics (8 works)