Locational Determinants of Real Estate Valuation: an Analysis of Spatial Autocorrelation in the Hedonic Pricing of Real Estate

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Recent studies of the valuation of real estate have concentrated on the use of hedonic pricing techniques in which the implicit prices of the component characteristics of an asset are inferred from the observed sale price using regression analysis. All of these studies include as explanatory variables one or more locational factors, such as distance to the central business district, as proxies for the effect that location has on the utility of land. In this research, the explicit consideration of the location of real estate in terms of the geographic or Cartesian coordinates (spatial attributes) of observed sales is shown ... continued below

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viii, 187 leaves : ill., maps

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Shampton, John F. May 1992.

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  • Shampton, John F.

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Description

Recent studies of the valuation of real estate have concentrated on the use of hedonic pricing techniques in which the implicit prices of the component characteristics of an asset are inferred from the observed sale price using regression analysis. All of these studies include as explanatory variables one or more locational factors, such as distance to the central business district, as proxies for the effect that location has on the utility of land. In this research, the explicit consideration of the location of real estate in terms of the geographic or Cartesian coordinates (spatial attributes) of observed sales is shown to be a potential substitute for such proxies, either wholly or in part. Such use of spatial attributes could improve
the usefulness of the hedonic methodology while at the same time significantly reducing cost and eliminating sources of error.

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viii, 187 leaves : ill., maps

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UNT Theses and Dissertations

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  • May 1992

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  • March 24, 2014, 8:07 p.m.

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  • May 20, 2015, 12:22 p.m.

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Citations, Rights, Re-Use

Shampton, John F. Locational Determinants of Real Estate Valuation: an Analysis of Spatial Autocorrelation in the Hedonic Pricing of Real Estate, dissertation, May 1992; Denton, Texas. (digital.library.unt.edu/ark:/67531/metadc278245/: accessed December 12, 2017), University of North Texas Libraries, Digital Library, digital.library.unt.edu; .