EconPapers    
Economics at your fingertips  
 

Simulating housing prices with UrbanSim: predictive capacity and sensitivity analysis

Marko Kryvobokov (), Aurelie Mercier (), Alain Bonnafous and Dominique Bouf ()

Letters in Spatial and Resource Sciences, 2013, vol. 6, issue 1, 44 pages

Abstract: Housing prices in the Lyon Urban area are simulated with the land use framework UrbanSim interacting with the transportation model MOSART. We focus on the Real Estate Price Model of the UrbanSim framework, which proposes the ordinary least square regression. In our simulation, the alternative geographically weighted regression methodology is applied. The model of housing prices is calibrated using a nine-year back-casting period. The calibrated model, applied in simulation, provides price dynamics similar to actual one in the very centre of Lyon. Farther from the city centre, where the available data on actual sales exist, simulated prices tend to be understated. Thus, mainly only the most central locations manifest realistic price dynamics. Sensitivity analysis demonstrates the model’s ability to capture changes in employment accessibility on price dynamics. Copyright Springer-Verlag 2013

Keywords: Transportation-land use modelling; UrbanSim; Real estate price model; Geographically weighted regression; Validation; Sensitivity; R150 (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2) Track citations by RSS feed

Downloads: (external link)
http://hdl.handle.net/10.1007/s12076-012-0084-1 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:lsprsc:v:6:y:2013:i:1:p:31-44

Ordering information: This journal article can be ordered from
http://www.springer.com/economics/journal/12076

DOI: 10.1007/s12076-012-0084-1

Access Statistics for this article

Letters in Spatial and Resource Sciences is currently edited by Henk Folmer and Amitrajeet A. Batabyal

More articles in Letters in Spatial and Resource Sciences from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().

 
Page updated 2021-01-06
Handle: RePEc:spr:lsprsc:v:6:y:2013:i:1:p:31-44