Relationships between past events, future expectations and present decisions, typically examined through a temporal prism within applied economics, have been lately moving to the spatial dimension through spatial econometrics. However, violations of the “arrow of time”, and thus causality,...

This paper develops a theoretical and methodological framework that integrates Hedonic Pricing (HP), grid comparable sales approach (CSA), and nearest neighbors into a general spatiotemporal specification. By explicitly providing a theoretical justification for introducing spatial (or...

For mass appraisal in real estate, the hedonic pricing method (HPM) tends to be most commonly used by academic researchers and the comparable sales approach (CSA) is mostly preferred by professionals. This paper shows how CSA is a constrained version of a spatial autoregressive (SAR) model,...

Spatial econometrics has been widely applied to Hedonic Pricing models in the literature to determine spatial spillover effects between house prices in close proximity. An approach is developed here to test for a short-run market expectations effect: the degree to which the expectations of...

Evaluating the impact of public mass transit systems on real-estate values is an important application of the hedonic price model (HPM). Recently, a mathematical transformation of this approach has been proposed to account for the potential omission of latent spatial variables that may...

Recent developments in spatial econometrics have been devoted to spatio-temporal data and how spatial panel data structure should be modeled. Little effort has been devoted to the way one must deal with spatial data pooled over time. This paper presents the characteristics of spatial data pooled...

Recent ready access to free software and toolbox applications is directly impacting spatial econometric modelling when working with geolocated data. Spatial econometric models are valuable tools for taking into account the possible latent structure of the price determination process and ensuring...