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Consider the hedonic housing price function determined by Grether and Mieszkowski (1974). Based on their function, how much would a 1,092 square foot house with

  1. Consider the hedonic housing price function determined by Grether and Mieszkowski (1974).
    1. Based on their function, how much would a 1,092 square foot house with 2 bedrooms, 1 bathroom, 2 family rooms, a 5,703 square foot lot, a fireplace and a two car garage that was built in 1955 be worth?
    2. If you were to create your own personal hedonic housing price function, what attributes would have the larges hedonic coefficients, and why?

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