Title: An Alternative Spatial Hedonic Estimation Approach
Abstract:Housing studies typically use parcel level distance variables or some variant of the spatial weights matrix approach to incorporate spatial effects into hedonic regression models. In this paper, using...Housing studies typically use parcel level distance variables or some variant of the spatial weights matrix approach to incorporate spatial effects into hedonic regression models. In this paper, using very detailed data on household attitudes and parcel attributes, hedonic regression residuals are used in a structural equations framework to check for additional spatial effects in the hedonic coefficients beyond those captured in the hedonic regression itself. In this way, a "nearest neighbors" approach utilizing parcel level distance variables is compared directly to OLS estimation using spatial variables, showing the relative efficiency of the estimates in the former approach.Read More
Publication Year: 2004
Publication Date: 2004-01-01
Language: en
Type: article
Indexed In: ['crossref']
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Cited By Count: 14
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