This paper attempts to demonstrate the usefulness of the hedonic approach to the study of housing markets in Taipei, and discusses the price variations on hedonic structure within a metropolitan area. A method proposed by Box and Cox is used to search for the best hedonic specification. Findings suggest that the empirical works reject the identical relationships across submarkets. The specification of λ in each submarket is different, ranging from 0.03 to 0.90.
Journal of information & optimization sciences 21(2), pp.179-192