Spatial Dependence in Hedonic Property Models: Do Different Corrections for Spatial Dependence Result in Economically Significant Differences in Estimated Implicit Prices?

Spatial Dependence in Hedonic Property Models: Do Different Corrections for Spatial Dependence Result in Economically Significant Differences in Estimated Implicit Prices?

While data used in hedonic property models are inherently spatial in nature, to date the majority of past regression analyses have used OLS models that overlook possible spatial dependence in the data when estimating implicit prices for environmental hazards. This paper explicitly addresses spatial...

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Bibliographic Details
Main Authors: Julie M. Mueller, John B. Loomis
Format: Article
Language:English
Published: Western Agricultural Economics Association 2008-08-01
Series:Journal of Agricultural and Resource Economics
Subjects:
forest fires
hedonic property models
spatial econometrics
Online Access:https://ageconsearch.umn.edu/record/42459

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