Road distance and travel time for an improved house price Kriging predictor. Issue 3 (3rd July 2018)
- Record Type:
- Journal Article
- Title:
- Road distance and travel time for an improved house price Kriging predictor. Issue 3 (3rd July 2018)
- Main Title:
- Road distance and travel time for an improved house price Kriging predictor
- Authors:
- Crosby, Henry
Damoulas, Theo
Caton, Alex
Davis, Paul
Porto de Albuquerque, João
Jarvis, Stephen A. - Abstract:
- ABSTRACT: The paper designs an automated valuation model to predict the price of residential property in Coventry, United Kingdom, and achieves this by means of geostatistical Kriging, a popularly employed distance-based learning method. Unlike traditional applications of distance-based learning, this papers implements non-Euclidean distance metrics by approximating road distance, travel time and a linear combination of both, which this paper hypothesizes to be more related to house prices than straight-line (Euclidean) distance. Given that – to undertake Kriging – a valid variogram must be produced, this paper exploits the conforming properties of the Minkowski distance function to approximate a road distance and travel time metric. A least squares approach is put forth for variogram parameter selection and an ordinary Kriging predictor is implemented for interpolation. The predictor is then validated with 10-fold cross-validation and a spatially aware checkerboard hold out method against the almost exclusively employed, Euclidean metric. Given a comparison of results for each distance metric, this paper witnesses a goodness of fit ( ) result of 0.6901 ± 0.18 SD for real estate price prediction compared to the traditional (Euclidean) approach obtaining a suboptimal value of 0.66 ± 0.21 SD.
- Is Part Of:
- Geo-spatial information science. Volume 21:Issue 3(2018)
- Journal:
- Geo-spatial information science
- Issue:
- Volume 21:Issue 3(2018)
- Issue Display:
- Volume 21, Issue 3 (2018)
- Year:
- 2018
- Volume:
- 21
- Issue:
- 3
- Issue Sort Value:
- 2018-0021-0003-0000
- Page Start:
- 185
- Page End:
- 194
- Publication Date:
- 2018-07-03
- Subjects:
- Kriging -- Minkowski -- travel time -- road distance -- real-estate valuation
Geographic information systems -- Periodicals
Cartography -- Data processing -- Periodicals
Surveying -- Data processing -- Periodicals
Remote sensing -- Periodicals
526.0285 - Journal URLs:
- http://www.springerlink.com/content/120480/ ↗
http://www.tandfonline.com/loi/tgsi20#.Vh45TZWFOig ↗
http://www.tandfonline.com/ ↗ - DOI:
- 10.1080/10095020.2018.1503775 ↗
- Languages:
- English
- ISSNs:
- 1009-5020
- Deposit Type:
- Legaldeposit
- View Content:
- Available online (eLD content is only available in our Reading Rooms) ↗
- Physical Locations:
- British Library DSC - 4158.896405
British Library DSC - BLDSS-3PM
British Library HMNTS - ELD Digital store - Ingest File:
- 7702.xml