IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this article

Theoretical and Empirical Considerations Regarding Space in Hedonic Housing Price Model Applications

Listed author(s):
  • William M. Bowen
Registered author(s):

    Recent advances in spatial data analysis are making their way into a variety of applied research settings. Once purely the domain of specialists, increased availability of both spatial data and the software with which to handle them, spatial analysis techniques are diffusing into other areas of research. This article first details the rationale and need for spatial considerations in hedonic price models and focuses on the link between the context of the housing market and the statistical considerations necessary when dealing with spatial data. These issues are then explored via an application to the housing market of Cuyahoga County, Ohio. It was found, first, that explicit modeling of space is not always warranted. One of our two models shows no substantial signs of spatial misspecification. However, in the second model, where diagnostic tests call for the explicit modeling of space, some drastic differences were found between the space-neglected model and the more correctly specified spatial hedonic model. This highlights the need to include spatial diagnostics as part of the standard model-fitting procedure for hedonic house price applications. Copyright 2001 Gatton College of Business and Economics, University of Kentucky.

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL:
    File Function: link to full text
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

    Article provided by Wiley Blackwell in its journal Growth and Change.

    Volume (Year): 32 (2001)
    Issue (Month): 4 ()
    Pages: 466-490

    in new window

    Handle: RePEc:bla:growch:v:32:y:2001:i:4:p:466-490
    Contact details of provider: Web page:

    Order Information: Web:

    No references listed on IDEAS
    You can help add them by filling out this form.

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:bla:growch:v:32:y:2001:i:4:p:466-490. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing)

    or (Christopher F. Baum)

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.