Aggregation bias in repeat-sales indices

被引：31

作者：

Dombrow, J ^{[1
]}

Knight, JR ^{[1
]}

Sirmans, CF ^{[1
]}

机构：

[1] UNIV PACIFIC, EBERHARDT SCH BUSINESS, STOCKTON, CA 95211 USA

来源：

JOURNAL OF REAL ESTATE FINANCE AND ECONOMICS | 1997年 / 14卷 / 1-2期

关键词：

price index; housing; aggregation bias; varying parameters; repeal sales;

D O I：

10.1023/A:1007720001268

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

The repeat-sales methodology has become a standard approach for estimating real estate price indices. This article examines the underlying assumptions inherent in the repeat sales model and provides an empirical test for both included and omitted variables as sources of aggregation bias. The results indicate that virtually all price indices may be biased, the degree of bias being dependent upon the number of variables examined and the instability of their parameters over time.

引用

页码：75 / 88

页数：14

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