John M. Clapp

University of Connecticut - Department of Finance

Professor

School of Business

2100 Hillside Road

Storrs, CT 06269

United States

SCHOLARLY PAPERS

34

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CITATIONS
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52

Scholarly Papers (34)

1.

Unobserved Heterogeneity in Models of Competing Mortgage Termination

Number of pages: 41 Posted: 05 Mar 2004
John M. Clapp, Xudong An and Yongheng Deng
University of Connecticut - Department of Finance, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Wisconsin School of Business, University of Wisconsin-Madison
Downloads 733 (33,324)

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Mortgage termination risks, Cox Proportional Hazard Model (CPH), Multinomial Logit Model (MNL), Out-of-sample prediction; Unobserved heterogeneity

2.

Omitted Mobility Characteristics and Property Market Dynamics: Application to Mortgage Termination

Number of pages: 48 Posted: 22 Sep 2005
Xudong An, Yongheng Deng and John M. Clapp
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, Wisconsin School of Business, University of Wisconsin-Madison and University of Connecticut - Department of Finance
Downloads 377 (77,395)
Citation 4

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Mortgage termination risks, Multinomial Logit Model (MNL), Nested Logit Model (NMNL), Mobility, Refinance, Default

3.

Spatial Prediction of House Prices Using Lpr and Bayesian Smoothing

Number of pages: 30 Posted: 09 Nov 2001
John M. Clapp, Hyon-Jung Kim and Alan E. Gelfand
University of Connecticut - Department of Finance, University of Oulu and Duke University - Decision Sciences
Downloads 288 (104,726)

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Land values; house prices; prediction; spatial modeling; Bayesian spatial modeling; local polynomial regression; smoothing regressions; nonparametric methods; semiparametric models.

4.

Defining Neighborhood Boundaries: Are Census Tracts Obsolete

Number of pages: 47 Posted: 20 Dec 2003
John M. Clapp and Yazhen Wang
University of Connecticut - Department of Finance and University of Wisconsin - Madison - Department of Statistics
Downloads 246 (123,467)
Citation 1

Abstract:

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GIS, Neighborhoods, CART, classification and regression trees, hedonic models, submarkets, anisotropic spatial autocorrelation

A Semi Parametric Method for Estimating Local House Price Indices

Number of pages: 49 Posted: 22 Nov 2003
John M. Clapp
University of Connecticut - Department of Finance
Downloads 234 (129,328)

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house price indices, neighborhood price change, local polynomial regression, smoothing regressions, nonparametric methods, semiparametric models

A Semi Parametric Method for Estimating Local House Price Indices

Real Estate Economics, Forthcoming
Posted: 22 Nov 2003
John M. Clapp
University of Connecticut - Department of Finance

Abstract:

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house price indices, neighborhood price change, local polynomial regression, smoothing regressions, nonparametric methods, semiparametric models

6.

A Semiparametric Method for Valuing Residential Location

Number of pages: 38 Posted: 24 Oct 2001
John M. Clapp
University of Connecticut - Department of Finance
Downloads 172 (172,985)

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Land values, neighborhood house values, property tax assessment, local polynomial regression, smoothing regressions, nonparametric methods, semiparametric models

7.

Buy to Scrape? The Hedonic Model with Redevelopment Options

Number of pages: 41 Posted: 03 Dec 2007 Last Revised: 16 Jun 2009
John M. Clapp, Jyh-Bang Jou and Tan Lee
University of Connecticut - Department of Finance, National Taiwan University and Yuan-Ze University
Downloads 145 (199,790)
Citation 3

Abstract:

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real options value, hedonic model, nonlinear regression, valuation, human capital, real estate

8.

Retail Agglomeration and Competition Externalities: Evidence from Openings and Closings of Multiline Department Stores in the US

Journal of Business and Economic Statistics, Forthcoming
Number of pages: 53 Posted: 06 Apr 2015 Last Revised: 29 Mar 2018
John M. Clapp, Stephen L. Ross and Tingyu Zhou
University of Connecticut - Department of Finance, University of Connecticut - Department of Economics and Florida State University
Downloads 91 (280,146)
Citation 1

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Multi-line Department Stores, Shopping Centers, Openings, Closings, Bias-Corrected Probit

9.

Anchoring to Purchase Price and Fundamentals: Application of Salience Theory to Diagnosis of Housing Cycles

Number of pages: 53 Posted: 30 Aug 2017 Last Revised: 30 Apr 2019
John M. Clapp, Ran Lu-Andrews and Tingyu Zhou
University of Connecticut - Department of Finance, California Lutheran University, School of Management and Florida State University
Downloads 51 (382,788)

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Housing Cycles, Disposition Effect, House Prices and Fundamentals, Anchoring, Salience Theory

10.

Controlling Unobserved Heterogeneity in Repeat Sales Models: Application to the Disposition Effect in Housing

University of Connecticut School of Business Research Paper No. 18-16
Number of pages: 42 Posted: 22 Mar 2018 Last Revised: 22 May 2018
John M. Clapp, Ran Lu-Andrews and Tingyu Zhou
University of Connecticut - Department of Finance, California Lutheran University, School of Management and Florida State University
Downloads 44 (407,031)

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Disposition Effect, Anchoring, Loss Aversion, Unobserved Heterogeneity

11.

Local Polynomial Regressions Versus Ols for Generating Location Value Estimates: Which is More Efficient in Out-of-Sample Forecasts?

FRB St. Louis Working Paper No. 2015-14
Number of pages: 40 Posted: 19 Aug 2015 Last Revised: 06 Mar 2019
Jeffrey Cohen, Cletus C. Coughlin and John M. Clapp
University of Connecticut - School of Business, Federal Reserve Bank of St. Louis - Research Division and University of Connecticut - Department of Finance
Downloads 24 (496,069)

Abstract:

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Land Values, Location Values, Semi-Parametric Estimation, Local Polynomial Regressions

Unobserved Heterogeneity in Models of Competing Mortgage Termination Risks

Real Estate Economics, Vol. 34, No. 2, pp. 243-273, Summer 2006
Number of pages: 31 Posted: 20 Nov 2006
John M. Clapp, Xudong An and Yongheng Deng
University of Connecticut - Department of Finance, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Wisconsin School of Business, University of Wisconsin-Madison
Downloads 17 (556,314)
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Unobserved Heterogeneity in Models of Competing Mortgage Termination Risks

Real Estate Economics, Forthcoming
Posted: 25 Jan 2006 Last Revised: 30 Dec 2013
John M. Clapp, Yongheng Deng and Xudong An
University of Connecticut - Department of Finance, Wisconsin School of Business, University of Wisconsin-Madison and Federal Reserve Banks - Federal Reserve Bank of Philadelphia

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Schools and Housing Markets: An Examination of School Segregation and Performance in Connecticut

Economic Journal, Vol. 114, No. 499, pp. F425-F440, November 2004
Number of pages: 16 Posted: 25 Oct 2004
John M. Clapp and Stephen L. Ross
University of Connecticut - Department of Finance and University of Connecticut - Department of Economics
Downloads 14 (576,009)
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Schools and Housing Markets: An Examination of School Segregation and Performance in Connecticut

University of Connecticut Working Paper
Posted: 06 Dec 2002
John M. Clapp and Stephen L. Ross
University of Connecticut - Department of Finance and University of Connecticut - Department of Economics

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Education, School Performance, School Segregation, Residential sorting, Housing Price

14.

Controlling Unobserved Heterogeneity in Repeat Sales Models: Application to the Anchoring Effect in Housing

Number of pages: 47 Posted: 22 Apr 2019
John M. Clapp, Tingyu Zhou and Ran Lu-Andrews
University of Connecticut - Department of Finance, Florida State University and California Lutheran University, School of Management
Downloads 12 (572,559)

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Repeat Sales, Boundary Effects, Anchoring, Loss Aversion, Unobserved Heterogeneity

15.

Online Appendix for Controlling Unobserved Heterogeneity in Repeat Sales Models: Application to the Anchoring Effect in Housing

Number of pages: 18 Posted: 05 Feb 2019 Last Revised: 27 Mar 2019
John M. Clapp, Tingyu Zhou and Ran Lu-Andrews
University of Connecticut - Department of Finance, Florida State University and California Lutheran University, School of Management
Downloads 12 (566,401)

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Repeat Sales, Boundary Effects, Anchoring, Loss Aversion, Unobserved Heterogeneity

16.

Is the Behavior of Sellers with Expected Gains and Losses Relevant to Cycles in House Prices?

Number of pages: 68 Posted: 24 May 2019
John M. Clapp, Tingyu Zhou and Ran Lu-Andrews
University of Connecticut - Department of Finance, Florida State University and California Lutheran University, School of Management
Downloads 7 (597,870)

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Housing Cycles, Anchoring, Reference Dependence, Price-volume Relationship, Cyclical Turning Points

Hedonic Models with Redevelopment Options Under Uncertainty

Real Estate Economics, Vol. 40, Issue 2, pp. 197-216, 2012
Number of pages: 20 Posted: 23 May 2012
John M. Clapp, Jyh‐Bang Jou and Tan (Charlene) Lee
University of Connecticut - Department of Finance, affiliation not provided to SSRN and affiliation not provided to SSRN
Downloads 1 (680,701)
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Hedonic Models with Redevelopment Options Under Uncertainty

Real Estate Economics, June 2012
Posted: 19 Apr 2011
John M. Clapp, Jyh-Bang Jou and Tan (Charlene) Lee
University of Connecticut - Department of Finance, Massey University and National Central University

Abstract:

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Hedonic pricing model, real options

18.

The Location of New Anchor Stores within Metropolitan Areas

Regional Science and Urban Economics, Vol. 50, 2015
Posted: 26 Mar 2018
Tingyu Zhou and John M. Clapp
Florida State University and University of Connecticut - Department of Finance

Abstract:

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19.

Local Polynomial Regressions versus OLS for Generating Location Value Estimates

Journal of Real Estate Finance and Economics, Vol. 54, No. 3, 2017
Posted: 18 Mar 2017
Jeffrey Cohen, Cletus C. Coughlin and John M. Clapp
University of Connecticut - School of Business, Federal Reserve Bank of St. Louis - Research Division and University of Connecticut - Department of Finance

Abstract:

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Land Values, Location Values, Semi-Parametric Estimation, Local Polynomial

20.

Do Laws Influence the Cost of Real Estate Brokerage Services? A State Fixed Effects Approach

Real Estate Economics, Vol. 44, Issue 4, pp. 918-967, 2016
Number of pages: 50 Posted: 13 Oct 2016
Anupam Nanda, John M. Clapp and Katherine A. Pancak
University of Reading - Real Estate Finance, University of Connecticut - Department of Finance and University of Connecticut - School of Business - Center for Real Estate and Urban Economic Studies
Downloads 0 (666,371)
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21.

Predicting Risks of Anchor Store Openings and Closings

Journal of Real Estate Finance and Economics, Vol. 52, No. 4, 2016
Posted: 17 Apr 2016
Tingyu Zhou and John M. Clapp
Florida State University and University of Connecticut - Department of Finance

Abstract:

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Localization economies vs competition, Multi-line department stores, Retail locations, Conditional logit, Anchor stores, Retail opening and closing

22.

Expansions and Contractions of Major US Shopping

Journal of Real Estate Finance and Economics, Vol. 48, No. 1, 2014, Forthcoming
Posted: 03 Dec 2013 Last Revised: 14 Jan 2017
University of Connecticut - Department of Finance, Fairfield University - Department of Finance and Florida State University

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Real options; Put and call options; Game theory and strategic exercises; Shopping centers; Competition and entry deterrence; Commercial real estate

23.

Omitted Mobility Characteristics and Property Market Dynamics: Application to Mortgage Termination

Journal of Real Estate Finance and Economics, Vol. 41, No. 3, 2010
Posted: 26 May 2010
Xudong An, John M. Clapp and Yongheng Deng
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, University of Connecticut - Department of Finance and Wisconsin School of Business, University of Wisconsin-Madison

Abstract:

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Housing Market, Mobility, Mortgage Termination, Multinomial Logit Model

24.

Option Value Created and Destroyed by the Big Bang in the Berlin Housing Market, 1978-2007

Posted: 18 Jan 2010
John M. Clapp and Thies Lindenthal
University of Connecticut - Department of Finance and Massachusetts Institute of Technology (MIT) - Center for Real Estate

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Real options, housing markets, Berlin wall, market decline

25.

Hedonic Pricing with Redevelopment Options: A New Approach to Estimating Depreciation Effects

Journal of Urban Economics, Vol. 67, 2010
Posted: 08 Dec 2009 Last Revised: 01 Nov 2011
John M. Clapp and Katsiaryna Salavei Bardos
University of Connecticut - Department of Finance and Fairfield University - Department of Finance

Abstract:

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real options, hedonic pricing models, depreciation, age effect, option to redevelop

26.

Empirical Estimation of the Option Premium for Residential Redevelopment

Regional Science and Urban Economics, Forthcoming
Posted: 22 May 2009 Last Revised: 01 Nov 2011
University of Connecticut - Department of Finance, Fairfield University - Department of Finance and University of Hong Kong

Abstract:

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real options, hedonic pricing, housing redevelopment, house price volatility

27.

Modeling Spatial and Temporal House Price Patterns: A Comparison of Four Models

Journal of Real Estate Finance and Economics, Vol. 29, No. 2
Posted: 27 Jan 2004
Texas Christian University, Fannie Mae, Case Western Reserve University - Department of Economics and University of Connecticut - Department of Finance

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kriging, out of sample prediction, data snooping, local polynomial regression, smoothing regressions, semiparametric models, cluster analysis, nearest neighbors, hedonic models

28.

A Semiparametric Method for Valuing Residential Location: Application to Automated Valuation

Journal of Real Estate Finance and Economics, Vol. 27, No. 3
Posted: 06 Jun 2003
John M. Clapp
University of Connecticut - Department of Finance

Abstract:

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land values, neighborhood house values, property tax assessment, automated valuation, local polynomial smoothing regression, nonparametric methods, semiparametric

29.

Revisions in Repeat Sales Price Indices: Here Today, Gone Tomorrow?

Real Estate Economics, Vol. 27, No. 1, 1999
Posted: 14 Feb 1999
John M. Clapp and Carmelo Giaccotto
University of Connecticut - Department of Finance and University of Connecticut - Department of Finance

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30.

Using a GIS for Real Estate Market Analysis: The Problem of Spatially Aggregated Data

Journal of Real Estate Research, Vol. 16, Issue 1, September 1998
Posted: 06 Dec 1998
John M. Clapp and Mauricio Rodriguez
University of Connecticut - Department of Finance and Texas Christian University

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31.

Imperfect Information and Investor Inferences from Housing Price Dynamics

REAL ESTATE ECONOMICS, Fall 1995
Posted: 25 Aug 1998
John M. Clapp, Walter Dolde and Dogan Tirtiroglu
University of Connecticut - Department of Finance, University of Connecticut - Department of Finance and Kadir Has University

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32.

Spatio-Temporal Autoregressive Models of Neighborhood Effects

JOURNAL OF REAL ESTATE FINANCE AND ECONOMICS
Posted: 08 May 1998
Louisiana State University - E.J. Ourso College of Business Administration, University of Alaska-Fairbanks, University of Connecticut - Department of Finance and Texas Christian University

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33.

Residential Hedonic Models: A Rational Expectations Approach to Age Effects

Journal of Urban Economics, Forthcoming
Posted: 07 Nov 1997
John M. Clapp and Carmelo Giaccotto
University of Connecticut - Department of Finance and University of Connecticut - Department of Finance

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34.

Price Indexes Based on the Hedonic Repeat Sales Method: Application to the Housing Market

Posted: 21 Feb 1997
John M. Clapp
University of Connecticut - Department of Finance

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