Name
Title | ||
|---|---|---|
A spatio-temporal model of housing prices based on individual sales transactions over time |
Abstract | ||
|---|---|---|
A spatio-temporal model of housing price trends is developed that focuses on individual housing sales over time. The model allows for both the spatio-temporal lag effects of previous sales in the vicinity of each housing sale, and for general autocorrelation effects over time. A key feature of this model is the recognition of the unequal spacing between individual housing sales over time. Hence the residuals are modeled as a first-order autoregressive process with unequally spaced events. The maximum-likelihood estimation of this model is developed in detail, and tested in terms of simulations based on selected data. In addition, the model is applied to a small data set in the Philadelphia area. |
Year | DOI | Venue |
|---|---|---|
2009 | 10.1007/s10109-009-0085-9 | Journal of Geographical Systems |
Keywords | Field | DocType |
autocorrelation,spatio-temporal models,housing prices,maximum likelihood estimate,first order,autoregressive process | Econometrics,Autoregressive model,Small data,Maximum likelihood,Statistics,Geography,Lag,Autocorrelation | Journal |
Volume | Issue | ISSN |
11 | 4 | 1435-5949 |
Citations | PageRank | References |
2 | 0.49 | 0 |
Authors | ||
2 | ||
Name | Order | Citations | PageRank |
|---|---|---|---|
| Tony E. Smith | 1 | 102 | 17.16 |
| Peggy Wub | 2 | 2 | 0.49 |