Spatial Statistics and Real Estate
JOURNAL OF REAL ESTATE FINANCE AND ECONOMICS, Volume 17, Issue 1
Posted: 20 May 1998
Abstract
Real estate has historically employed statistical tools designed for independent observations while simultaneously noting the violation of these assumptions in the form of clustering of same sign residuals by neighborhood, along roads, and near facilities such as airports. Spatial statistics takes these dependencies into account to provide more realistic inference (OLS has biased standard errors), better prediction, and more efficient parameter estimates.
JEL Classification: L85, R10
Suggested Citation: Suggested Citation
Barry, Ronald and Pace, R. Kelley and Sirmans, C. F., Spatial Statistics and Real Estate. JOURNAL OF REAL ESTATE FINANCE AND ECONOMICS, Volume 17, Issue 1, Available at SSRN: https://ssrn.com/abstract=85071
Feedback
Feedback to SSRN
If you need immediate assistance, call 877-SSRNHelp (877 777 6435) in the United States, or +1 212 448 2500 outside of the United States, 8:30AM to 6:00PM U.S. Eastern, Monday - Friday.