Modeling Spatial and Temporal House Price Patterns - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Modeling Spatial and Temporal House Price Patterns write by Mauricio Rodriguez. This book was released on 2004. Modeling Spatial and Temporal House Price Patterns available in PDF, EPUB and Kindle. This research reports results from a competition on modeling spatial and temporal components of house prices. A large, well-documented database was prepared and made available to anyone wishing to join the competition. To prevent data snooping, out-of-sample observations were withheld; they were deposited with one individual who did not enter the competition, but had the responsibility of calculating out-of-sample statistics for results submitted by the others. The competition turned into a cooperative effort, resulting in enhancements to previous methods including: a localized version of Dubin's kriging model, a kriging version of Clapp's local regression model, and a local application of Case's earlier work on dividing a geographic housing market into districts. The results indicate the importance of nearest neighbor transactions for out-of-sample predictions: spatial trend analysis and census tract variables do not perform nearly as well as neighboring residuals.
Modelling House Prices
Modelling House Prices - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Modelling House Prices write by Marko Hannonen. This book was released on . Modelling House Prices available in PDF, EPUB and Kindle. This booklet is a final complement to the series of investigations (”A Field Theory of House Prices”, ISBN 978-952-6613-36-9 and ”Nonstandard House Price Theory”, ISBN 978-952-6613-66-6) on the fundamental nature of house prices, which is, strictly speaking, a mathematical question. As in the earlier e-books on the scientific essence of house prices by the author, this booklet analyses house prices using the concept of a vector field. The fundamental idea underlying this e-book is that housing demand, housing supply and house prices can be investigated not as scalar functions but as genuine vector fields.
A Field Theory of House Prices
A Field Theory of House Prices - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook A Field Theory of House Prices write by Marko Hannonen. This book was released on . A Field Theory of House Prices available in PDF, EPUB and Kindle. This book presents the essential ideas of the field theory of house prices. This theory combines some fundamental concepts of classical physics and standard economics, providing a new, alternative way of thinking about house prices. In the field theory of house prices a new concept of analysis is defined: house prices by distance from the CBD (Central Business District). In traditional neoclassical economics, house prices are analysed directly without including the location element of a house. The field theory, however, takes location explicitly into account by analysing house prices divided by the distance from the CBD. The main ideas of the field theory are also applicable to the land markets and facilities markets, where location plays a significant role in the analysis of property prices. The author is a Doctor of Science (Technology), whose research interest focuses on applied mathematics and economics.
House Price Methodology
House Price Methodology - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook House Price Methodology write by Marko Hannonen. This book was released on . House Price Methodology available in PDF, EPUB and Kindle. This booklet discusses some major methodological issues relating to the construction of house price models on a macro level. There is no single method that always produces the optimal results; the choice of a particular approach, method, theory, model and technique is context-dependent. This is especially true in housing markets, where a multitude of different submarkets exist. The methodology chosen should be based on sound theory, from which the basic concepts of analysis can be derived. This booklet discusses the use of potential models, which can be constructed using a general field theory, and which act as a theoretical foundation for further analysis. If we use potential models for house price analysis we can discover additional features from the data set that other approaches would simply miss. This e-book presents a pragmatic overview of key methodological concerns with the emphasis on the use of potential models. Theoretical methodological questions are left unanswered, and are not even presented in this text, since they have little relevancy to real-world modelling questions.
Spatio-temporal Modeling and Predictions of House Prices in San Jose
Spatio-temporal Modeling and Predictions of House Prices in San Jose - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Spatio-temporal Modeling and Predictions of House Prices in San Jose write by Haoying Meng. This book was released on 2016. Spatio-temporal Modeling and Predictions of House Prices in San Jose available in PDF, EPUB and Kindle. House prices are of interest to the general public and government agencies for many reasons. The complexity and practicality of house price modeling have attracted many researchers. In this dissertation, attempts are made to explore the dependence structure in time and space among houses using over 130 thousand house price observations in San Jose from 1991 to 2012. Innovative spline methods are utilized to build a forecasting model incorporating both hedonic, spatial and temporal information. The use of splines greatly reduces the number of variables needed in the model without sacrificing for precision. Moreover, the recession period (2008--2010) was given special care because it behaved differently from the rest of the 22 year time period. The model proposed in this dissertation uses both repeat sales and single sale transactions, and is able to produce an overall price index for the whole region, as well as predictions for individual houses. The final model, which includes an autoregressive spatio-temporal error term, is shown to have better predictive abilities than other competing methods in the literature.
