Abstract
It is of important economic interest to understand the market for sales of residential properties. Customary analysis focuses on explaining selling price using property and neighborhood characteristics, so-called hedonic models. Here, our interest is in understanding the locations of the sales. The set of such locations forms a space-time point pattern. With interest in comparing different types of property sales, we obtain marked space-time point patterns according to the size of property.
We focus on sales in the city of Zaragoza in Spain during a 10 year period. We employ nonhomogeneous Poisson process models as well as log Gaussian Cox process models, fitted within a Bayesian ramework, with investigation of model adequacy and model comparison.
Original language | English |
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Title of host publication | Proceedings of the 48th scientific meeting of the Italian Statistical Society |
Pages | 1-6 |
Number of pages | 6 |
Publication status | Published - 2016 |
Event | 48 scientific meeting of the Italian Statistical Society - Salerno Duration: 8 Jun 2016 → 10 Jun 2016 |
Conference
Conference | 48 scientific meeting of the Italian Statistical Society |
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City | Salerno |
Period | 8/6/16 → 10/6/16 |
Keywords
- MCMC
- log-Gaussian Cox process
- marked point pattern
- nearest neighbor Gaussian process
- nonhomogeneous Poisson process