Kelley Pace


I hold the LREC Endowed Chair of Real Estate at Louisiana State University (LSU). I work in the area of spatial statistics and spatiotemporal statistics. As a brief explanation of these fields, models applied to data yield errors. For observations close together in time or space, these errors usually display more similarity in magnitude and sign than standard textbook statistical formulae would predict. Spatial statistics and spatiotemporal statistics uses this phenomenon to improve estimation and prediction. For many types of data (e.g., house prices) the dependence among nearby observations is very strong. In these cases, spatial and spatiotemporal techniques can provide dramatic improvements over the simpler textbook techniques such as ordinary least squares (OLS).

I further discuss these ideas in my book with James Lesage,  Introduction to Spatial Econometrics, CRC Press/Taylor & Francis .

This book provides a number of motivations for spatial dependence and focuses on the interpretation of spatial econometric models. We discuss both basic and advanced topics.

We would like the thank the following individuals for their thoughtful reviews of the book:

Ugarte, M. Dolores (2011), "Introduction to Spatial Econometrics," Journal of the Royal Statistical Society, Series A, Volume 174, Number 2, p. 513-514.

Bell, Kathleen P. (2010), "Introduction to Spatial Econometrics," Journal of Regional Science, Volume 50, Number 5, p. 1014-1015.

Elhorst, Paul (2010), "Applied Spatial Econometrics: Raising the Bar," Spatial Economic Analysis, Volume 5, Number 1, p. 9-28 (lead article).

Fingleton, Bernard, et. al. (2010), "Editorial," Spatial Economic Analysis, Volume 5, Number 1, p. 2-3.

Lee, Lung-Fei and Jihai Yu (2010), "Introduction to Spatial Econometrics," Geographical Analysis, Volume 42, p. 356-358.

Lozano-Gracia, Nancy (2010), "Introduction to Spatial Econometrics," Journal of the American Statistical Association, Volume 105, Number 491, p. 1280.

Buscher, Herbert S. (2009), "Introduction to Spatial Econometrics," Zentralblatt, 1163-91004.

Matthias, Arnold (2009), "Introduction to Spatial Econometrics," Statistical Papers.

O'Brien, C.M. (2009), "Introduction to Spatial Econometrics," International Statistical Review, p. 472.

Ross, Justin (2009), "Introduction to Spatial Econometrics," The Perfect Substitute. If you are interested in seeing specific titles of my papers, go to my Vita or my Google Scholar citation page.

If you wish to learn more about spatial statistics or spatiotemporal statistics or to obtain free software, go to my site

If you are interested in real estate applications of spatial statistical techniques, go to my LSU site.


Contact Information:

Kelley Pace home:
2164B CEBA, Department of Finance
E.J. Ourso College of Business
Louisiana State University P.O. Box 16364
Baton Rouge, LA 70803-6308 Baton Rouge, LA 70893
(225)-388-6256, 6238