Regression results, OLS and IV-estimates, SAR and SEM
| (1) | (2) | (3) | (4) | (5) | |
|---|---|---|---|---|---|
| OLS | IV1 | IV2 | SAR | SEM | |
| Living area | 0.0137*** (89.08) | 0.0138*** (88.60) | 0.0137*** (85.72) | 0.0145*** (89.37) | 0.0133*** (87.01) |
| Monthly fee | −0.0000523*** (−24.30) | −0.0000553*** (−25.38) | −0.0000549*** (−24.57) | −0.0000655*** (−29.56) | −0.0000539*** (−23.64) |
| Rooms | 0.0267*** (7.97) | 0.0272*** (8.02) | 0.0283*** (8.13) | 0.0210*** (5.80) | 0.0340*** (10.66) |
| CBD | −0.0578*** (−19.25) | −0.00185*** (−8.42) | −0.00364*** (−8.11) | −0.0809*** (−80.75) | −0.0859*** (−83.61) |
| Shopping mall | −0.0233*** (−6.94) | −0.0286*** (−8.27) | −0.0429*** (−9.15) | −0.0531*** (−24.32) | −0.0296*** (−8.84) |
| Metro station | −0.0221*** (−4.29) | −0.0289*** (−5.37) | 0.00366(0.42) | −0.0478*** (−11.68) | −0.0250*** (−4.20) |
| Hot spot | 0.0000162*** (3.48) | −0.0000197* (−2.44) | −0.0000181(−1.89) | −0.00000476* (−2.26) | 0.0000166*** (4.97) |
| Cold spot | 0.0000683*** (15.61) | 0.0000557*** (7.19) | 0.000131*** (6.77) | 0.0000268*** (10.18) | 0.0000586*** (13.59) |
| Constant | 21.98 (1.36) | −2.368 (−0.15) | −21.24(−1.15) | 14.62*** (832.36) | 14.54*** (1134.11) |
| ρ | 0.00133 (1.81) | ||||
| λ | 3.079*** (863.26) | ||||
| Observations | 12,621 | 12,621 | 12,621 | 12,621 | 12,621 |
| R2 | 0.881 | 0.878 | 0.872 | 0.8577 | 0.8535 |
| AIC | −10,996.4 | −10,668.5 | . | −8,800.2 | −11,541.5 |
| Moran’s I | 2,175.91 |
| (1) | (2) | (3) | (4) | (5) | |
|---|---|---|---|---|---|
| OLS | IV1 | IV2 | SAR | SEM | |
| Living area | 0.0137 | 0.0138 | 0.0137 | 0.0145 | 0.0133 |
| Monthly fee | −0.0000523 | −0.0000553 | −0.0000549 | −0.0000655 | −0.0000539 |
| Rooms | 0.0267 | 0.0272 | 0.0283 | 0.0210 | 0.0340 |
| CBD | −0.0578 | −0.00185 | −0.00364 | −0.0809 | −0.0859 |
| Shopping mall | −0.0233 | −0.0286 | −0.0429 | −0.0531 | −0.0296 |
| Metro station | −0.0221 | −0.0289 | 0.00366(0.42) | −0.0478 | −0.0250 |
| Hot spot | 0.0000162 | −0.0000197 | −0.0000181(−1.89) | −0.00000476 | 0.0000166 |
| Cold spot | 0.0000683 | 0.0000557 | 0.000131 | 0.0000268 | 0.0000586 |
| Constant | 21.98 (1.36) | −2.368 (−0.15) | −21.24(−1.15) | 14.62 | 14.54 |
| 0.00133 (1.81) | |||||
| 3.079 | |||||
| Observations | 12,621 | 12,621 | 12,621 | 12,621 | 12,621 |
| 0.881 | 0.878 | 0.872 | 0.8577 | 0.8535 | |
| −10,996.4 | −10,668.5 | . | −8,800.2 | −11,541.5 | |
| Moran’s I | 2,175.91 |
Notes:
t statistics in parentheses; *p < 0.05, **p < 0.01, ***p < 0.001