topic Hedonic pricing using geostatistical in ArcGIS GeoStatistical Analyst Questions

Hedonic pricing using geostatistical

MilanBudhathoki1 — Thu, 12 May 2011 16:01:29 GMT

Hi,

I am trying to estimate property value ( hedonic pricing) using ArcGIS. I have point data ( single family house) which holds information like address, market value, area in sq. ft, etc. I am interested to use very simple approach to estimate property value ( single family house) difference within certain buffer from coastal area.So, what is/are possible way/s to estimate property difference?

Thanks in advance !

Re: Hedonic pricing using geostatistical

EricKrause — Thu, 12 May 2011 17:09:23 GMT

I would suggest you look into Geographically Weighted Regression, or maybe even Ordinary Least-Squares. You can use geostatistics to interpolate how prices, but if you have extra information (like square feet), you can incorporate it with GWR or OLS.

Both tools are in the Spatial Statistics toolbox. After reading the documentation, if you still have questions about to use the tools, the Spatial Statistics forum is the best place to ask:

http://forums.arcgis.com/forums/110-Spatial-Statistics

Re: Hedonic pricing using geostatistical

PeterMarkus — Wed, 22 Feb 2012 20:13:14 GMT

Hallo!

I´m trying to make an hedonic price index of buildings per the cost of qm. But I have some nonlinear parameters in my model. Is ther an extantion for GWR avaiable for nonlinear models? Or loglinear?

Thanks!

Peter

Re: Hedonic pricing using geostatistical

EricKrause — Wed, 22 Feb 2012 21:46:06 GMT

There aren't any explicit modules or add-ons or anything for non-linear models. However, you may be able to manually transform your predictor variables to linearize them (Box-Cox or logarithmic transformations, for example). You would need to create a new field in your feature class, then use the Field Calculator to manually apply the transformation.

Re: Hedonic pricing using geostatistical

ParkerChadwell — Tue, 05 Apr 2022 15:04:04 GMT

Do you know how to create a dummy variable for an address' intersection with a buffer in the attribute table?