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An Alternative to the Standard Spatial Econometric Approaches in Hedonic House Price Models

机译:Hedonic房屋价格模型中标准空间计量经济学方法的替代方法

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Omitted, misspecified, or mismeasured spatially varying characteristics are a cause for concern in hedonic house price models. Spatial econometrics or spatial fixed effects have become popular ways of addressing these concerns. We discuss the limitations of standard spatial approaches to hedonic modeling and demonstrate the spatial generalized additive model as an alternative. Parameter estimates for several spatially varying regressors are shown to be sensitive to the scale of the fixed effects and bandwidth dimension used to control for omitted variables. This sensitivity reflects the uncertainty associated with the estimates when the appropriate spatial scale of the controls is unknown. (JEL Q51, Q52)
机译:在享乐房价模型中,遗漏,错误指定或错误度量的空间变化特征值得关注。空间计量经济学或空间固定效应已成为解决这些问题的流行方法。我们讨论了享乐主义建模的标准空间方法的局限性,并演示了空间广义加性模型作为替代方法。结果表明,几个空间变化的回归参数估计对固定效应的规模和用于控制遗漏变量的带宽尺寸很敏感。当控件的适当空间比例未知时,此灵敏度反映了与估计相关的不确定性。 (JEL Q51,Q52)

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