What is spatial econometrics?
Spatial econometrics is between a disciplinary field that moves to statistics, economics, regional sciences and econometrics. The field originally developed from econometrics that mix statistics and mathematics with the economy. The spatial aspect of econometrics leads to a study of how spatial relations or geography affects the study of statistical data and provide geographically focused interpretation of a set of data.
Regression analysis uses practicing spatial econometrics who use such an approach to building statistical models and tests. With regression analysis, scientists look at one dependent variable and one or more independent variables. When the value of the dependent variable changes, scientists try to predict how the change will affect the value of independent variables. These variables include spatial relations, such as what part of the city that is included in the statistical model, call home or how proximites of certain geographical features affect house prices in different nopart of the country.
Those who use spatial economist to study relationships between different variables, so they do in a way that differs from spatial statistics. Instead of focusing only on the relationships between the data collected scientists, scientists focus on the theoretical model to understand how geography changes in data through regression analysis. This focus on theoretical models also determines what variables in a set of data of interest to someone who uses spatial econometry. The limits of the theoretical model are estimated by scientists using regression analysis.
The final objective of spatial econometrics is not only to understand what happened, but also to make educated predictions about future events. Scientists focus on how spatial relationships between these variables affect the final results of various events. Using the results of such predictions, different organizations can prepare more for whatotherwise there would be unpredictable space -controlled events.
The application of spatial econometrics passes into a wide range of fields. The evaluators of the house, investors in real estate and other professions that need to measure and predict trends in real estate prices depend on spatial economic. Political scientists use data to study the effect of the neighborhood in which the person lives and how the person votes in the elections. Public health administrators use demographic data collected by spatial economists to better understand how the disease spreads throughout the population. Criminologists can use similar information to study factors that contribute to specific types of crime in different geographical areas.