Most hedonic pricing studies using transaction data employ only sold properties. Since the properties sold during any year or even decade represent only a fraction of all properties, this approach ignores the potentially valuable information content of unsold properties which have known...

We show that the ordinary least-squares method used by Pirinsky and Wang (2006) suffers from an endogeneity problem leading to biased and inconsistent estimates. A maximum likelihood estimation procedure that will produce consistent estimates for their model is set forth. This is done using an...

In this study, we consider R&D collaboration networks as a mechanism that modifies knowledge flows in space, and hence as another source of interaction among regional innovation processes. Our objective is to understand the relative role of spatial neighbors and network neighbors on patenting...

In this study, we consider R&D collaboration networks as a mechanism that modifies knowledge flows in space, and hence as another source of interaction among regional innovation processes. Our objective is to understand the relative role of spatial neighbors and network neighbors on patenting...

This paper presents a multinomial extension of the binary probit model that allows for inter firm utility based on a spatially defined cohort of firms. Extending the class of Bayesian spatial logit/probit models, we investigate how firms decisions regarding innovation strategies are related to a...