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283 - Explain how spatial dependence and spatial heterogeneity violate the Gauss-Markov assumptions of regression used in traditional econometrics
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Explain how spatial dependence and spatial heterogeneity violate the Gauss-Markov assumptions of regression used in traditional econometrics
Concepts
[AM9-1] Principles of spatial econometrics
Spatial econometrics uses spatial stochastic models to determine autocorrelation between interacting agents. The techniques involved are regression, the use of a spatial weights matrix, least squares, etc.