Staff Publications

Staff Publications

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    'Staff publications' is the digital repository of Wageningen University & Research

    'Staff publications' contains references to publications authored by Wageningen University staff from 1976 onward.

    Publications authored by the staff of the Research Institutes are available from 1995 onwards.

    Full text documents are added when available. The database is updated daily and currently holds about 240,000 items, of which 72,000 in open access.

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Record number 429816
Title W-based versus latent variables spatial autoregressive models: evidence from Monte Carlo simulations
Author(s) Liu, A.; Folmer, H.; Oud, J.H.L.
Source Annals of Regional Science 47 (2011)3. - ISSN 0570-1864 - p. 619 - 639.
Department(s) Economics of Consumers and Households Group
Publication type Refereed Article in a scientific journal
Publication year 2011
Keyword(s) regression-models - weights matrix - specification - econometrics
Abstract In this paper, we compare by means of Monte Carlo simulations two approaches to take spatial autocorrelation into account: the classical spatial autoregressive model and the structural equations model with latent variables. The former accounts for spatial dependence and spillover effects in georeferenced data by means of a spatial weights matrix W. The latter represents spatial dependence and spillover effects by means of a latent variable in the structural (regression) model while the observed spatially lagged variables are related to the latent spatial dependence variable in the measurement model. The simulation results based on Anselin's Columbus, Ohio, crime data set show that the misspecified latent variables approach slightly trails the correctly specified classical approach in terms of bias and root mean squared error of the coefficient estimators.
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