Estimating the Effect of Land Leases on Prices of Inner-city Apartment Buildings
Bibliographic record
Abstract
The effect of land leases as opposed to freehold tenure on selling price is investigated for income property in proximity to the city centre. Hedonic estimation with multiplicative and additive models in a cross-section analysis is used to estimate the relationship between property characteristics on the one hand and selling price on the other. If land leases are valued by the market as the present value of the lease payments independent of other property features, an additive lease component should be appropriate. If, on the other hand, the valuation of the land lease aspect is not independent of other property features, a multiplicative lease component should be appropriate. Theoretical arguments can be advanced for either point of view, making it interesting to study the issue empirically. A sub-issue of interest is the effect on value of distance to the city centre. The sample consists of major apartment buildings centrally located in downtown Stockholm sold during a selected three-year period.
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How this classification was reachedexpand
Full frame distilled prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.
Codex and Gemma teacher scores by category
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.001 | 0.001 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.000 | 0.000 |
| Science and technology studies | 0.000 | 0.000 |
| Scholarly communication | 0.000 | 0.000 |
| Open science | 0.000 | 0.000 |
| Research integrity | 0.000 | 0.000 |
| Insufficient payload (model declined to judge) | 0.000 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one teacher head, not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".