Zastosowanie klasyfikacji do wyodrębniania homogenicznych grup dóbr w modelowaniu hedonicznym
The application of classification in distinguishing homogeneous groups of goods for hedonic modelling

Summary/Abstract: Hedonic model is an econometric representation of the price of a commodity as a combination of its significant characteristics and their individual prices. Moreover, it is assumed that analyzed commodities are relatively homogeneous, which means that the relationship between price and characteristics can be adequately described by the same hedonic regression. In practice the problem of precise definition of groups of commodities to be analyzed arises. On the one hand, the commodities should be similar to each other sufficiently enough to be characterized by a similar relationship between price and attributes. On the other hand, the model created for too homogeneous group of commodities would not be particularly useful. This article aims at distinguishing relatively homogeneous groups of goods for the purposes of hedonic modelling with the application of k-means clustering method. Empirical studies have been conducted for secondary housing market in Wrocław based on data consisting in individual sales offers placed in the Internet.

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