1# RECORD e6a1a7456694e4d82f53e60d41336f947a438dda2# TITLE: Estimation of housing prices in Ecuador using hedonic and geostatistical models: A comparative analysis3# YEAR: 2022.0 VENUE: Journal of business and entrepreneurial studies DOI: 10.37956/jbes.v6i2.2864# AUTHORS: nan5# PAGES: 16 CANDIDATE TABLE PAGES (1-based): []6# ABSTRACT: nan789===== PAGE 1 (score 2, numeric-paren 0, table-words 0, var-words 2) =====1011 12 13Journal of Business and entrepreneurial 14January - March Vol. 6 - - 2202 2 15http://journalbusinesses.com/index.php/revista 16e-ISSN: 2576-0971 17 journalbusinessentrepreneurial@gmail.com 18Receipt: 01 June 2021 19Approval: 28 January 2022 20Page 57-72 21Estimation of housing prices in Ecuador using 22hedonic and geostatistical models: A comparative 23analysis. 24 25Estimación de precios de vivienda en Ecuador mediante 26modelos hedónicos y geoestadísticos: Un análisis 27comparative 28 29Livino M. Armijos-Toro* 30Sergio Castillo-Páez* 31Fernando Ortega* 32 33ABSTRACT 34This paper compares the results of two models, one hedonic 35and the other geostatistical, when obtaining housing price 36estimates in the Rumiñahui canton, Ecuador. In the first model, 37different parameterizations of the variables that make up the 38hedonic model are used to obtain the best predictions. For the 39geostatistical case, the predictions are composed of a trend 40function that depends on certain housing characteristics and a 41spatial error term, which is modeled from a residual variogram. 42The performance of each model is compared by an analysis of 43prediction errors from a validation data set. The results indicate 44a better performance for the geostatistical model, since it 45considers, in addition to certain inherent characteristics of each 46house, the effect of its spatial location on the selling price. 47 48Keywords: Hedonic regression, Variogram, Kriging methods, 49Housing prices. 50 51 52 53 54* Master's Degree, Universidad de las Fuerzas Armadas ESPE, Department of 55Exact 56Sciences, 57Riobamba, 58Ecuador. 59lmarmijos2@espe.edu.ec. 60https://orcid.org/0000-0001-8553-536X. 61* Master's Degree, Universidad de las Fuerzas Armadas ESPE, Department of 62Exact Sciences, Ecuador. sacastillo@espe.edu.ec. https://orcid.org/0000-630002-5402-2462. 64* 65Ph.D, 66Universidade 67de 68Vigo, 69Vigo, 70Spain. 71pgarcia@uvigo.es. 72https://orcid.org/0000-0003-4542-6630 73* Master's Degree, Universidad Técnica del Norte, School of Engineering in 74Applied 75Sciences, 76Riobamba, 77Ecuador, 78fwortega@utn.edu.ec. 79https://orcid.org/0000-0002-1545-4182 80 81 82 83