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Spatial Econometric Analysis Of Louisiana Rural Real Estate Values, Patricia Soto

LSU Doctoral Dissertations

The general purpose of this study was to conduct a spatial analysis of the dynamics of rural land values in Louisiana. Specifically, spatial econometric procedures and hedonic price analysis were used to evaluate the impact of land characteristics on land prices across rural land markets in Louisiana. Initially, hedonic models were estimated by ordinary least squares (OLS) procedures to test for the presence of spatial autocorrelation using Lagrange Multiplier tests. Results suggested that there was spatial autocorrelation in the error terms. Hedonic models were then estimated using maximum likelihood (ML) spatial error techniques. Log likelihood numbers and likelihood ratio tests …