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http://dx.doi.org/10.7465/jkdi.2015.26.3.561

Prediction of apartment prices per unit in Daegu-Gyeongbuk areas by spatial regression models  

Lee, Woo Jung (Department of Statistics, Keimyung University)
Park, Cheolyong (Department of Statistics, Keimyung University)
Publication Information
Journal of the Korean Data and Information Science Society / v.26, no.3, 2015 , pp. 561-568 More about this Journal
Abstract
In this study we predict apartment prices per unit in Daegu-Gyeongbuk areas by spatial lag and spatial error models, both of which belong to so-called spatial regression model. A spatial weight matrix is constructed by k-nearest neighbours method and then the models for the apartment prices in March, 2012 are fitted using the weight matrix. The apartment prices in March, 2013 are predicted by the fitted spatial regression models and then performances of two spatial regression models are compared by RMSE (root mean squared error), RRMSE (root relative mean squared error), MAE (mean absolute error).
Keywords
Apartment price; spatial error model; spatial lag model; spatial regression model;
Citations & Related Records
Times Cited By KSCI : 1  (Citation Analysis)
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