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A Further Discussion of Optimal Comparable Selection and Weighting, and a Response to Green

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  • George W. Gau
  • Tsong‐Yue Lai
  • Ko Wang

Abstract

Using a revised model framework that views expected adjusted prices of corn‐parables as random variables, Green (1994) demonstrates that Vandell's (1992) minimum variance estimator is preferred under the classical ordinary least squares (OLS) assumptions. As a result, the minimum coefficient of variation estimator proposed by Gau, et al. (1993) is preferred only when the classical OLS assumptions are relaxed. We demonstrate that, even under Green's revised framework, there is not sufficient evidence in the paper to justify this claim.

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  • George W. Gau & Tsong‐Yue Lai & Ko Wang, 1994. "A Further Discussion of Optimal Comparable Selection and Weighting, and a Response to Green," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 22(4), pages 655-663, December.
    • Handle: RePEc:bla:reesec:v:22:y:1994:i:4:p:655-663
    DOI: 10.1111/1540-6229.00654
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    Cited by:

    1. Rohana Abdul Rahman, 2011. "Variations in Implementing SCM to Minimize Subjectivity and a Future Direction for Malaysia," ERES eres2011_178, European Real Estate Society (ERES).

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