Total Grid Estimation
AbstractThis article provides a matrix representation of the adjustment grid estimator. From this representation, one can invoke the Gauss-Mrkov theorem to examine the efficiency of ordinary least squares (OLS) and the grid estimator that uses OLS estimates of the adjustments (the "plug-in" grid method). In addition, this matrix representation suggests a generalized least squares version of the grid method, labeled herin as the total grid estimator. Based on the empirical experiments, the total grid estimator outperformed the plug-in grid estimator, which in turn outperformed the OLS.
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Bibliographic InfoArticle provided by American Real Estate Society in its journal Journal of Real Estate Research.
Volume (Year): 15 (1998)
Issue (Month): 1 ()
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Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
Web page: http://www.aresnet.org/
Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
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