Introduction To Spatial Econometrics( Series - Statistics: A Series Of Textbooks And Monographs )

Spatial dependence is a frequent occurrence in sample data collected with reference to points or regions in space, such as with census data based on regions like census tracts, counties, or postal code areas. When spatial dependence is encountered in sample data, it leads to biased and inconsistent estimates arising from conventional regression-based econometric models. This book introduces readers to the econometric issues encountered when this occurs. It presents maximum likelihood and Bayesian spatial regression methods at a level appropriate for practitioners familiar with undergraduate-level introductory economic models and methods.