Economics, Econometrics and Finance
5 years ago

New test detects hidden patterns in Boston house prices!

Regional Science and Urban Economics
Tests for spatial dependence and heterogeneity in spatially autoregressive varying coefficient models with application to Boston house price analysis
Deng‐Kui Li, Changlin Mei, Ning Wang

Paper Summary

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Spatially autoregressive varying coefficient models help analyze spatial data by considering both spatial dependence and heterogeneity. Researchers developed two tests using bootstrap methods to detect spatial autocorrelation and constant coefficients in regression functions. These tests accurately identify spatial patterns in data, as shown in simulations and analysis of Boston house prices.