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@article{ART001645557},
author={Song Yongcheol and Park， Heonsoo},
title={A Study on the Estimation of Farmland Price Using Spatial Econometrics Approach: Focused on Urban Fringe in Seoul Metropolitan Area},
journal={The Korea Spatial Planning Review},
issn={1229-8638},
year={2012},
volume={72},
pages={121-140},
doi={10.15793/kspr.2012.72..007}

TY - JOUR
AU - Song Yongcheol
AU - Park， Heonsoo
TI - A Study on the Estimation of Farmland Price Using Spatial Econometrics Approach: Focused on Urban Fringe in Seoul Metropolitan Area
JO - The Korea Spatial Planning Review
PY - 2012
VL - 72
IS - null
PB - 국토연구원
SP - 121
EP - 140
SN - 1229-8638
AB - This study aims at identifying a parcel based land price estimation model, considered spatial dependency and heterogeneity, focused on the farmland which is the main target of land policy as a future urbanized land. In addition to ordinary least square estimation like hedonic price model, spatial econometrics approaches such as spatial auto regression model, spatial error model and geographically weighted regression model were used to estimate the farmland price at the urban fringe in Seoul Metropolitan Area and compared. The empirical results showed that GWR model weighted tricube adaptive kernel has about 30% lower RMSE than OLS model. In the future, it is strongly suggested to apply transaction price based GWR models for public purpose land price estimation such as landbanking and public land disposal, both indirect and long-term land policy, especially when calibrating other price factors.
KW - Spatial Econometrics;Geographically Weighted Regression;Farmland Price;Landbanking;Public Land Disposal
DO - 10.15793/kspr.2012.72..007
ER -

Song Yongcheol and Park， Heonsoo. (2012). A Study on the Estimation of Farmland Price Using Spatial Econometrics Approach: Focused on Urban Fringe in Seoul Metropolitan Area. The Korea Spatial Planning Review, 72, 121-140.

Song Yongcheol and Park， Heonsoo. 2012, "A Study on the Estimation of Farmland Price Using Spatial Econometrics Approach: Focused on Urban Fringe in Seoul Metropolitan Area", The Korea Spatial Planning Review, vol.72, pp.121-140. Available from: doi:10.15793/kspr.2012.72..007

Song Yongcheol, Park， Heonsoo "A Study on the Estimation of Farmland Price Using Spatial Econometrics Approach: Focused on Urban Fringe in Seoul Metropolitan Area" The Korea Spatial Planning Review 72 pp.121-140 (2012) : 121.

Song Yongcheol, Park， Heonsoo. A Study on the Estimation of Farmland Price Using Spatial Econometrics Approach: Focused on Urban Fringe in Seoul Metropolitan Area. 2012; 72 121-140. Available from: doi:10.15793/kspr.2012.72..007

Song Yongcheol and Park， Heonsoo. "A Study on the Estimation of Farmland Price Using Spatial Econometrics Approach: Focused on Urban Fringe in Seoul Metropolitan Area" The Korea Spatial Planning Review 72(2012) : 121-140.doi: 10.15793/kspr.2012.72..007

Song Yongcheol; Park， Heonsoo. A Study on the Estimation of Farmland Price Using Spatial Econometrics Approach: Focused on Urban Fringe in Seoul Metropolitan Area. The Korea Spatial Planning Review, 72, 121-140. doi: 10.15793/kspr.2012.72..007

Song Yongcheol; Park， Heonsoo. A Study on the Estimation of Farmland Price Using Spatial Econometrics Approach: Focused on Urban Fringe in Seoul Metropolitan Area. The Korea Spatial Planning Review. 2012; 72 121-140. doi: 10.15793/kspr.2012.72..007

Song Yongcheol, Park， Heonsoo. A Study on the Estimation of Farmland Price Using Spatial Econometrics Approach: Focused on Urban Fringe in Seoul Metropolitan Area. 2012; 72 121-140. Available from: doi:10.15793/kspr.2012.72..007

Song Yongcheol and Park， Heonsoo. "A Study on the Estimation of Farmland Price Using Spatial Econometrics Approach: Focused on Urban Fringe in Seoul Metropolitan Area" The Korea Spatial Planning Review 72(2012) : 121-140.doi: 10.15793/kspr.2012.72..007