<abstract xmlns="http://www.w3.org/1999/xhtml"><p>Many of the property attributes are measured on weak scales (nominal and ordinal scale). For example, land allocation in the development plan is measured on a nominal scale and such categories as proximity, equipment, access to means of communication, location, and soil and water conditions, are measured on an ordinal scale. The use of statistical measures appropriate for interval or quotient scales is wrong in such cases. Therefore, the article presents statistical measures that allow specifying the impact of the attributes on real estate prices, which can be used for the weaker scales, mainly for the ordinal scale. In the empirical illustration the proposed measures will be calculated by using the actual database of transaction prices.</p></abstract>

Many of the property attributes are measured on weak scales (nominal and ordinal scale). For example, land allocation in the development plan is measured on a nominal scale and such categories as proximity, equipment, access to means of communication, location, and soil and water conditions, are measured on an ordinal scale. The use of statistical measures appropriate for interval or quotient scales is wrong in such cases. Therefore, the article presents statistical measures that allow specifying the impact of the attributes on real estate prices, which can be used for the weaker scales, mainly for the ordinal scale. In the empirical illustration the proposed measures will be calculated by using the actual database of transaction prices.

Statistical Determination of Impact of Property Attributes for Weak Measurement Scales

Real Estate Management and Valuation

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Many of the property attributes are measured on weak scales (nominal and ordinal scale). For example, land allocation in the development plan is measured on a...

Statistical Determination of Impact of Property Attributes for Weak Measurement Scales

Published Online: Jan 11, 2018

Page range: 75 - 84

DOI: https://doi.org/10.1515/remav-2017-0031

Keywords
impact of the real estate attributes, Spearman coefficient, Kendall's tau-b coefficient

© 2017 Mariusz Doszyń, published by De Gruyter Open

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Statistical Determination of Impact of Property Attributes for Weak Measurement Scales

Published Online: Jan 11, 2018

Page range: 75 - 84

DOI: https://doi.org/10.1515/remav-2017-0031

Keywordsimpact of the real estate attributes, Spearman coefficient, Kendall's tau-b coefficient

© 2017 Mariusz Doszyń, published by De Gruyter Open

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Keywords
impact of the real estate attributes, Spearman coefficient, Kendall's tau-b coefficient