Comments (6)
andykrause
commented on July 21, 2024
Simon: Thanks for reaching out. The weighted option for repeat transaction (rt) or weighted repeat sales approach defaults to the weighting proposed by Case and Shiller (http://www.econ.yale.edu/~shiller/pubs/p0781.pdf; https://www.nber.org/papers/w2393.pdf). You can add other weighting, but if you don't this default is used. Since there is no default for WLS in the hedIndex approach you must supply them if you hope to run a weighted model.
Perhaps I should clarify this in the documentation for my next release.
Thank you for reaching out and let me know if you have any other questions.
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SimonMelamed
commented on July 21, 2024
Hi Andy,
Thank you for your answer.
I was also wondering if you could provide a reference to which theory the Robust estimator was based upon?
Also, when I created my Repeat Sales index, the OLS and WLS hedonic time dummy index was identical, is that normal?
Greatly appreciate any answers. Hope you have a nice day.
Best regards,
Simon Melamed
… 31 mars 2020 kl. 05:11 skrev Andy Krause ***@***.*** ***@***.***>>:
Simon: Thanks for reaching out. The weighted option for repeat transaction (rt) or weighted repeat sales approach defaults to the weighting proposed by Case and Shiller (http://www.econ.yale.edu/~shiller/pubs/p0781.pdf <http://www.econ.yale.edu/~shiller/pubs/p0781.pdf>; https://www.nber.org/papers/w2393.pdf <https://www.nber.org/papers/w2393.pdf>). You can add other weighting, but if you don't this default is used. Since there is no default for WLS in the hedIndex approach you must supply them if you hope to run a weighted model.
Perhaps I should clarify this in the documentation for my next release.
Thank you for reaching out and let me know if you have any other questions.
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SimonMelamed
commented on July 21, 2024
Hello Andy,
I hope you can answer a question of mine.
When I try to create a WLS hedonic index using the hedIndex and attempt to use expenditure shares as weights,
I get the error,
'You have supplied a set of weights that do not match the data.Model being run in base OLS format.’,
Do you know why this is?
Best regards,
Simon Melamed
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andykrause
commented on July 21, 2024
Simon: Regarding the 'You have supplied...' error message about weights, that error should only show if the length of the weights vector that you supplied is not the same length as the number of rows in your data. If you can send a reproducible example, i'll try to debug and see if the problem is on my end.
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andykrause
commented on July 21, 2024
Simon: Actually, I see the problem. If you use the wrapper function (hedIndex) and some of the records are removed due to having two sales of same property in the same period (mostly likely if using a annual or quarterly periodicity), then the weights will be the wrong length. Its a bug on my end. Thanks for bringing to my attention.
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andykrause
commented on July 21, 2024
Simon: Implemented a fix here. remotes::install_github("andykrause/hpiR") should get you the fixed version. I'll push this update to CRAN with my next version update.
Thanks for reporting the bug!
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Related Issues (20)
- Differentiate Series and Index Accuracy
- Create Blending Option
- Move 'estimator' class object into generics HOT 1
- Allow custom weights in Repeat-Trans model HOT 1
- Add random forest option HOT 1
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- Create minimum limit on repeat transaction distances
- Add Shapley Value option HOT 1
- Add Log Error HOT 1
- Accuracy output to give pair id match
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- Update to dplyr 1.0.0 HOT 1
- Period table flexibility HOT 1
- Notes + Improvements (TBD)
- Upgrade to 4.0
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