Optimal Comparable Selection and Weighting in Real Property Valuation: An Extension
作者:
George W. Gau,
Tsong‐Yue Lai,
Ko Wang,
期刊:
Real Estate Economics
(WILEY Available online 1992)
卷期:
Volume 20,
issue 1
页码: 107-123
ISSN:1080-8620
年代: 1992
DOI:10.1111/1540-6229.00574
出版商: Blackwell Publishing Ltd
数据来源: WILEY
摘要:
Vandell (1991) recently developed a rigorous minimum variance technique for selecting and weighting comparables in real estate appraisal. This article extends Vandell's methodology in three areas: (1) an alternative objective function; (2) an approach that explicitly recognizes the non‐negativity constraint on comparable weights; and, (3) a more robust comparable inclusion process. Using Vandell's data, we show how our methodology modifies Vandell's result
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