In housing markets, one bundle of characteristics is regarded as corresponding to a single price via a hedonic function. However, under the conditions of market mixture, the correspondence can be multi-valued and the existence of a single function is an illusion. The market segmentation approach decomposes a complex correspondence into simple functions. In this paper, we propose an automatic segmentation method that satisfies the submarket’s equilibrium and substitutability conditions. Our empirical results show that our method provides a reasonable segmentation.

中文翻译：

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享乐价格函数的错觉：享乐推理的非参数可解释分割

在房屋市场中，通过享乐函数，一捆特征被认为对应于单个价格。但是，在市场混合的条件下，对应关系可以是多值的，并且单个函数的存在是一种错觉。市场细分方法将复杂的对应关系分解为简单的功能。在本文中，我们提出了一种满足细分市场的均衡性和可替代性条件的自动细分方法。我们的经验结果表明，我们的方法提供了合理的细分。