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Comparing the Accuracy of the Minimum-Variance Grid Method to Multiple Regression in Appraised Value Estimates

  • Tsong-Yue Lai
  • Ko Wang
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The adjustment-grid method and the multiple-regression method are the two most frequently used techniques in the sales comparison approach. This paper demonstrates that although both techniques provide unbiased estimators, the minimum-variance grid estimator should result in a smaller standard deviation than the multiple-regression estimator. A technique is also derived to estimate the confidence interval or to perform hypothesis tests for the minimum-variance grid estimator. Copyright American Real Estate and Urban Economics Association.

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Article provided by American Real Estate and Urban Economics Association in its journal Real Estate Economics.

Volume (Year): 24 (1996)
Issue (Month): 4 ()
Pages: 531-549

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Handle: RePEc:bla:reesec:v:24:y:1996:i:4:p:531-549
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