OLS and Interval Regression Land Sale Estimates
| (1) | (2) | (3) | (4) | (5) | (6) | |
|---|---|---|---|---|---|---|
| Estimation method | OLS | OLS | OLS | Interval regression | Interval regression | Interval regression |
| Dependent variable | ln(Sales price) | ln(Sales price) | ln(Sales price) | In (Sales price) | ln(Sales price) | ln(Sales price) |
| Independent variable Residential (yes = 1, no = 0) | 0.749*** (4.70) | 0.749*** (4.72) | 0.737*** (4.65) | 1.668*** (5.44) | 1.675* (5.48) | 1.649*** (5.40) |
| Commercial (yes = 1, no = 0) | 1.578***(6.59) | 1.587***(6.63) | 1.552*** (6.48) | 3.289*** (7.18) | 3.307*** (7.21) | 3.235*** (7.07) |
| ln(Size of lot) (square feet) | 0.166* (1.85) | 0.169* (1.88) | 0.164* (1.82) | 0.343** (1.99) | 0.350** (2.02) | 0.342** (1.96) |
| Buildable (yes = 1, no = 0) | 0.302* (1.79) | 0.300* (1.78) | 0.305* (1.80) | 0.634* (1.93) | 0.625* (1.90) | 0.637* (1.94) |
| ln(Distance to Packard plant) (feet) | 1.434*** (4.17) | 0.731** (2.14) | 1.002*** (2.88) | 3.227*** (4.38) | 1.599** (2.15) | 2.214*** (2.88) |
| ln(Distance to city center) (miles) | − 1.330* (− 1.79) | − 2.446*** (−2.84) | − 2.813* (−1.85) | − 5.358*** (−3.17) | ||
| ln(Distance to border) (miles) | − 0.833***(−2.63) | − 1.243*** (−3.57) | − 1.919***(−3.03) | − 2.82*** (−4.02) | ||
| Sold in 2007 (yes = 1, no = 0) | 0.181 (1.16) | 0.167 (1.07) | 0.171 (1.10) | 0.597* (1.95) | 0.571* (1.87) | 0.583* (1.91) |
| Sold in 2008 (yes = l, no = 0) | − 0.388** (−2.53) | − 0.392** (−2.56) | − 0.392** (−2.56) | − 0.609** (— 2.05) | − 0.613** (−2.06) | − 0.611** (— 2.06) |
| Sold in 2009 (yes = l, no = 0) | − 0.703*** (−3.91) | − 0.688*** (−3.83) | − 0.710*** (−3.96) | − 1.348*** (−3.82) | − 1.312*** (−3.73) | − 1.365*** (−3.87) |
| Sold in 2010 (yes = 1, no = 0) | −0.731 (−0.568) | −0.757 (−1.33) | −0.759 (−1.34) | −1.042 (−0.86) | −1.096 (−0.91) | −1.107 (−0.92) |
| Wald chi2 | 961.02*** | 907.23*** | 1,011.23*** | |||
| Adjusted R2 | 0.072 | 0.073 | 0.076 | |||
| Number of observations | 3,788 | 3,788 | 3,788 | 3,788 | 3,788 | 3,788 |
| Number of left censored observations | 963 | 963 | 963 | |||
| Number of right censored observations | 944 | 944 | 944 |