Parcel size and land value: A comparison of approaches

Karl L. Guntermann, Alex Horenstein, Federico Nardari, Gareth Thomas

Research output: Contribution to journalArticle

2 Scopus citations

Abstract

The analysis presented here uses simulated and real data sets toinvestigate the relative merits of parametric, semi- parametricand Bayesian methods in testing for the co-existence of plottageand plattage and in identifying the inflection point. Usingartificial datasets generated with spatial correlation, inflection points at alternative locations over the range of sample sizes, different sample sizes and varying the relative quantities of small versus large parcels, we find that the Bayesian approach method generally dominates the semi-parametric one. In turn, these two methods strictly dominate the parametric one.

Original languageEnglish (US)
Pages (from-to)281-319
Number of pages39
JournalJournal of Real Estate Research
Volume37
Issue number2
StatePublished - Jan 1 2015

ASJC Scopus subject areas

  • Economics, Econometrics and Finance (miscellaneous)

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    Guntermann, K. L., Horenstein, A., Nardari, F., & Thomas, G. (2015). Parcel size and land value: A comparison of approaches. Journal of Real Estate Research, 37(2), 281-319.