caa a22 4500 477129854 CHVBK 20180405111701.0 cr unu---uuuuu 170330e19970501xx s 000 0 eng 10.1023/A:1007762613901 doi (NATIONALLICENCE)springer-10.1023/A:1007762613901 Using the Spatial Configuration of the Data to Improve Estimation [Elektronische Daten] [R PACE, OTIS GILLEY] Using the well-known Harrison and Rubinfeld (1978) hedonic pricing data, this manuscript demonstrates the substantial benefits obtained by modeling the spatial dependence of the errors. Specifically, the estimated errors on the spatial autoregression fell by 44% relative to OLS. The spatial autoregression corrects predicted values by a nonparametric estimate of the error on nearby observations and thus mimics the behavior of appraisers. The spatial autoregression, by formally incorporating the areal configuration of the data to increase predictive accuracy and estimation efficiency, has great potential in real estate empirical work. Kluwer Academic Publishers, 1997 spatial autocorrelation nationallicence SAR nationallicence hedonic pricing nationallicence PACE R. Department of Finance, E.J. Ourso College of Business Administration, Louisiana State University, 70803, Baton Rouge, LA aut GILLEY OTIS Department of Economics and Finance, College of Administration and Business, Louisiana Tech University, 71272, Ruston, Louisiana aut The Journal of Real Estate Finance and Economics Kluwer Academic Publishers 14/3(1997-05-01), 333-340 0895-5638 14:3<333 1997 14 11146 https://doi.org/10.1023/A:1007762613901 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1023/A:1007762613901 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- PACE R. Department of Finance, E.J. Ourso College of Business Administration, Louisiana State University, 70803, Baton Rouge, LA aut NATIONALLICENCE 700 1- GILLEY OTIS Department of Economics and Finance, College of Administration and Business, Louisiana Tech University, 71272, Ruston, Louisiana aut NATIONALLICENCE 773 0- The Journal of Real Estate Finance and Economics Kluwer Academic Publishers 14/3(1997-05-01), 333-340 0895-5638 14:3<333 1997 14 11146 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer