spb/wp9_uqo

1\begin{table}[htbp]\centering2\caption{Moran's $I$ of residuals: sensitivity to the weight matrix and subsample}3\label{tab:moran_sensitivity}4\begin{threeparttable}5\begin{tabular}{lcccc}6\toprule7 & \multicolumn{2}{c}{Subsample A} & \multicolumn{2}{c}{Subsample B} \\8\cmidrule(lr){2-3}\cmidrule(lr){4-5}9Neighbours & Structure only & Grand model & Structure only & Grand model \\10\midrule11$k=5$ & 0.525 \scriptsize($z=107$) & 0.111 \scriptsize($z=21$) & 0.517 \scriptsize($z=108$) & 0.100 \scriptsize($z=20$) \\12$k=10$ & 0.496 \scriptsize($z=140$) & 0.063 \scriptsize($z=19$) & 0.491 \scriptsize($z=151$) & 0.058 \scriptsize($z=17$) \\13$k=20$ & 0.469 \scriptsize($z=199$) & 0.034 \scriptsize($z=15$) & 0.470 \scriptsize($z=191$) & 0.031 \scriptsize($z=14$) \\14\bottomrule15\end{tabular}16\begin{tablenotes}\footnotesize\item Notes: Moran's $I$ with row-standardised $k$-nearest-neighbour weights (great-circle distance) on two independent random subsamples of 15{,}000 listings. $z$-scores from 199 random permutations; every permutation $p$-value equals its minimum attainable value of $1/200=0.005$. ``Structure only'' is the residual of the model with structural, type and ownership controls but no location effects.17\end{tablenotes}18\end{threeparttable}19\end{table}20