A spatio-temporal model of housing prices based on individual sales transactions over time

被引：31

作者：

Smith, Tony E. ^{[1
]}

Wu, Peggy ^{[2
]}

机构：

[1] Univ Penn, Dept Elect & Syst Engn, Philadelphia, PA 19104 USA

[2] Reinvestment Fund, Dept Policy & Informat Serv, Philadelphia, PA 19106 USA

来源：

JOURNAL OF GEOGRAPHICAL SYSTEMS | 2009年 / 11卷 / 04期

关键词：

Housing prices; Spatio-temporal models; Autocorrelation; SERIALLY CORRELATED ERRORS; LINEAR-MODEL;

D O I：

10.1007/s10109-009-0085-9

中图分类号：

P9 [自然地理学]; K9 [地理];

学科分类号：

0705 ; 070501 ;

摘要：

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.

引用

页码：333 / 355

页数：23

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