【摘要】We adopt a novel method to deal with omitted spatial heterogeneities in hedonic houseprice analysis. A Gaussian variant of the conditional autoregressive (CAR) model is used to study theimpact of spatial effects. In a general linear modeling framework, we include zone-specific randomeffects that are allowed to interact spatially with neighboring zones. The results demonstrate that thisestimator accounts for missing spatial information, producing more reliable results on estimated spa-tially related coefficients. The CAR model is benchmarked against a fixed effects model. Socioeconomicneighborhood characteristics are found to have only modest impact on spatial variation in housingprices.

【文献来源】Osland L;Thorsen I S;Thorsen I.Journal of Regional Science.2016（5）