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Incorporating spatial variation in housing attribute prices: A comparison of geographically weighted regression and the spatial expansion method

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  • Bitter, Chris
  • Mulligan, Gordon
  • Dall'erba, Sandy

Abstract

Hedonic house price models typically impose a constant price structure on housing characteristics throughout an entire market area. However, there is increasing evidence that the marginal prices of many important attributes vary over space, especially within large markets. In this paper, we compare two approaches to examine spatial heterogeneity in housing attribute prices within the Tucson, Arizona housing market: the spatial expansion method and geographically weighted regression (GWR). Our results provide strong evidence that the marginal price of key housing characteristics varies over space. GWR outperforms the spatial expansion method in terms of explanatory power and predictive accuracy.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 1379.

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Date of creation: 2006
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Handle: RePEc:pra:mprapa:1379

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  1. Schnare, Ann B. & Struyk, Raymond J., 1976. "Segmentation in urban housing markets," Journal of Urban Economics, Elsevier, vol. 3(2), pages 146-166, April.
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Cited by:
  1. Tausch, Arno, 2008. "308 Billion Euros into the Sand? The Debacle of the EU's Regional Policy [308 Milliarden Euro in den Sand? Zum Debakel der EU-Regionalpolitik]," MPRA Paper 10609, University Library of Munich, Germany.
  2. Tausch, Arno, 2009. "Ist die Globalisierung fit für das soziale Europa?
    [Is Globalization fit for Social Europe?]
    ," MPRA Paper 14264, University Library of Munich, Germany.
  3. Paolo Rosato & Lucia Rotaris & Margaretha Breil & Valentina Zanatta, 2008. "Do We Care about Built Cultural Heritage? The Empirical Evidence Based on the Veneto House Market," Working Papers 2008.64, Fondazione Eni Enrico Mattei.
  4. Karolien De Bruyne & Jan Van Hove, 2013. "Explaining the spatial variation in housing prices: an economic geography approach," Applied Economics, Taylor & Francis Journals, vol. 45(13), pages 1673-1689, May.
  5. Chung-Chang Lee, 2009. "Hierarchical Linear Modeling to Explore the Influence of Satisfaction with Public Facilities on Housing Prices," International Real Estate Review, Asian Real Estate Society, vol. 12(3), pages 252-272.
  6. Steven Deller & Reka Sundaram-Stukel, 2012. "Spatial patterns in the location decisions of US credit unions," The Annals of Regional Science, Springer, vol. 49(2), pages 417-445, October.
  7. Sven Müller, 2012. "Identifying spatial nonstationarity in German regional firm start-up data," Jahrbuch für Regionalwissenschaft, Springer, vol. 32(2), pages 113-132, September.

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