Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
1149089 | Journal of Statistical Planning and Inference | 2010 | 11 Pages |
Abstract
In this paper we propose a robust Bayesian procedure of estimation, testing, validation and selection of spatio-temporal autoregressive models (STAR) with neighbourhood effects applied to the appraisal of dwelling prices. The methodology does not depend on asymptotic results and, unlike previously procedures proposed in the literature, takes into account the uncertainty associated to the estimation of the neighbourhood parameters of the model, giving more realism to the analysis. Moreover, a sequential algorithm to elaborate fast on-line forecast, is provided. The methodology is illustrated by means of a practical case of the real estate market of Zaragoza.
Keywords
Related Topics
Physical Sciences and Engineering
Mathematics
Applied Mathematics
Authors
Asunción Beamonte, Pilar Gargallo, Manuel Salvador,