Spatial Statistics and Real Estate

JOURNAL OF REAL ESTATE FINANCE AND ECONOMICS, Volume 17, Issue 1

Posted: 20 May 1998

See all articles by Ronald Barry

Ronald Barry

University of Alaska-Fairbanks

R. Kelley Pace

Louisiana State University - E.J. Ourso College of Business Administration

C. F. Sirmans

Florida State University - Department of Risk Management, Insurance, Real Estate & Business Law

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

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

Ronald Barry

University of Alaska-Fairbanks ( email )

Fairbanks, AK 99775-6660
United States
907-474-7226 (Phone)
Not available (Fax)

R. Kelley Pace (Contact Author)

Louisiana State University - E.J. Ourso College of Business Administration ( email )

Department of Finance
2164 B Patrick F. Taylor Hall
Baton Rouge, LA 70803-6308
United States
(225)-578-6256 (Phone)
(225)-578-9065 (Fax)

HOME PAGE: http://www.spatial-statistics.com

C. F. Sirmans

Florida State University - Department of Risk Management, Insurance, Real Estate & Business Law ( email )

Tallahasse, FL 32306
United States
850 644-4076 (Phone)

HOME PAGE: http://www.cob.fsu.edu/rmi

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