Spatial Autoregression Techniques for Real Estate Data

Robin Dubin, Kelley Pace and Thomas Thibodeau

Journal of Real Estate Literature, 1999, vol. 7, issue 1, 79-95

Abstract: This paper describes how spatial techniques can be used to improve the accuracy of market value estimates obtained using multiple regression analysis. Rather than eliminating the problem of spatial residual dependencies through the inclusion of many independent variables, spatial statistical methods typically keep fewer independent variables and augment these with a simple model of the spatial error dependence. We discuss alternative spatial autoregression model specifications, estimation methods, and prediction procedures. An empirical example is provided in the appendix.

Date: 1999
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DOI: 10.1080/10835547.1999.12090079

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