Journal article
A Bayesian approach to hedonic price analysis*
Abstract
Two important objectives in hedonic price analysis are to predict sale prices and delineate submarkets based on geographical and functional considerations. In this paper, we applied Bayesian models with spatially varying coefficients in an analysis of housing sale prices in the city of Toronto, Ontario to address these objectives. We evaluated model performance and identified patterns of submarkets indicated by the spatial coefficient …
Authors
Wheeler DC; Páez A; Spinney J; Waller LA
Journal
Papers of the Regional Science Association, Vol. 93, No. 3, pp. 663–684
Publisher
Elsevier
Publication Date
8 2014
DOI
10.1111/pirs.12003
ISSN
1056-8190