Pre？os hed？nicos no mercado imobiliário comercial de S？o Paulo: a abordagem da modelagem multinível com classifica？？o cruzada

hedonic pricing models often don't take into account the cross-classified hierarchical nature of the office rental markets. this paper employs a cross-classified multilevel model (hcm2) to examine the impact that office characteristics, district and commercial zones have on rental prices in s？o paulo. using a sample of 277 properties from 15 districts cross-classified with 10 commercial zones, multilevel representativeness is found for the effects of the properties', districts' and zones' characteristics, considering the differentiation of mean prices in 2008.