A Primer on Piecewise Parabolic Multiple Regression Analysis via Estimations of Chicago CBD Land Prices

A Primer on Piecewise Parabolic Multiple Regression Analysis via Estimations of Chicago CBD Land... This article proposes a non-parametric method for estimating spatial price functions. Space is divided into squares. The independent variables are barycentric coordinates that uniquely describe the location of observations in space. The regression coefficients are estimates of the height of the function directly over the vertices of the square spatial units. Within each square the function has hyperbolic iso-price curves and parabolic sections. The price function is continuous, but not differentiable, at the boundaries between contiguous squares. This method is applied to the problem of describing the price per front foot of land in the Chicago CBD. A rather complex price surface is revealed that would be difficult to estimate using other methodologies but was easily estimated by this simple method. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Journal of Real Estate Finance and Economics Springer Journals

A Primer on Piecewise Parabolic Multiple Regression Analysis via Estimations of Chicago CBD Land Prices

Loading next page...
 
/lp/springer_journal/a-primer-on-piecewise-parabolic-multiple-regression-analysis-via-AYcHwJ00qY
Publisher
Kluwer Academic Publishers
Copyright
Copyright © 1998 by Kluwer Academic Publishers
Subject
Economics; Regional/Spatial Science; Financial Services
ISSN
0895-5638
eISSN
1573-045X
D.O.I.
10.1023/A:1007755213578
Publisher site
See Article on Publisher Site

Abstract

This article proposes a non-parametric method for estimating spatial price functions. Space is divided into squares. The independent variables are barycentric coordinates that uniquely describe the location of observations in space. The regression coefficients are estimates of the height of the function directly over the vertices of the square spatial units. Within each square the function has hyperbolic iso-price curves and parabolic sections. The price function is continuous, but not differentiable, at the boundaries between contiguous squares. This method is applied to the problem of describing the price per front foot of land in the Chicago CBD. A rather complex price surface is revealed that would be difficult to estimate using other methodologies but was easily estimated by this simple method.

Journal

The Journal of Real Estate Finance and EconomicsSpringer Journals

Published: Oct 6, 2004

References

You’re reading a free preview. Subscribe to read the entire article.


DeepDyve is your
personal research library

It’s your single place to instantly
discover and read the research
that matters to you.

Enjoy affordable access to
over 18 million articles from more than
15,000 peer-reviewed journals.

All for just $49/month

Explore the DeepDyve Library

Search

Query the DeepDyve database, plus search all of PubMed and Google Scholar seamlessly

Organize

Save any article or search result from DeepDyve, PubMed, and Google Scholar... all in one place.

Access

Get unlimited, online access to over 18 million full-text articles from more than 15,000 scientific journals.

Your journals are on DeepDyve

Read from thousands of the leading scholarly journals from SpringerNature, Elsevier, Wiley-Blackwell, Oxford University Press and more.

All the latest content is available, no embargo periods.

See the journals in your area

DeepDyve

Freelancer

DeepDyve

Pro

Price

FREE

$49/month
$360/year

Save searches from
Google Scholar,
PubMed

Create lists to
organize your research

Export lists, citations

Read DeepDyve articles

Abstract access only

Unlimited access to over
18 million full-text articles

Print

20 pages / month

PDF Discount

20% off