Using the well-known Harrison and Rubinfeld (1978) hedonicpricing data, this manuscript demonstrates the substantialbenefits obtained by modeling the spatial dependence of theerrors. Specifically, the estimated errors on the spatialautogregression fell by 44% relative to OLS. The...

Since February 2001, the Chinese Securities Regulatory Commission allowed domestic trade in foreign-currency denominated shares (B-shares) whose trade was originally restricted to foreign investors. We investigate possible effects of lifting the ownership restriction on the B-share discounts and...

Since February 2001, the Chinese Securities Regulatory Commission allowed domestic trade in foreign-currency denominated shares (B-shares) whose trade was originally restricted to foreign investors. We investigate possible effects of lifting the ownership restriction on the B-share discounts and...