<abstract xmlns="http://www.w3.org/1999/xhtml"><p> The paper presents the econometric procedures of identifying specific transactions, in which atypical conditions or attributes may occur. These procedures are based on studentized and predictive residuals of the accordingly specified econometric models. The dependent variable is a unit transactional price, and explanatory variables are both the real properties’ attributes and accordingly defined artificial binary variables. The utility of the proposed method has been verified by means of a real market data base. The proposed procedures can be helpful during the property valuation process, making it possible to reject real properties that are specific (both from the point of view of the transaction conditions and the properties’ attributes) and, consequently, to select an appropriate set of similar attributes that are essential for the valuation process.</p></abstract>

The paper presents the econometric procedures of identifying specific transactions, in which atypical conditions or attributes may occur. These procedures are based on studentized and predictive residuals of the accordingly specified econometric models. The dependent variable is a unit transactional price, and explanatory variables are both the real properties’ attributes and accordingly defined artificial binary variables. The utility of the proposed method has been verified by means of a real market data base. The proposed procedures can be helpful during the property valuation process, making it possible to reject real properties that are specific (both from the point of view of the transaction conditions and the properties’ attributes) and, consequently, to select an appropriate set of similar attributes that are essential for the valuation process.

The Econometric Procedures of Specific Transaction Identification

Folia Oeconomica Stetinensia

This work is licensed under the Creative Commons Attribution-ShareAlike 4.0 International Public License.

{"article-title":"The Econometric Procedures of Specific Transaction Identification"}

The paper presents the econometric procedures of identifying specific transactions, in which atypical conditions or attributes may occur. These procedures are...

The Econometric Procedures of Specific Transaction Identification

Data publikacji: 16 cze 2017

Zakres stron: 20 - 30

Otrzymano: 09 sty 2017

Przyjęty: 22 mar 2017

DOI: https://doi.org/10.1515/foli-2017-0002

Słowa kluczowe
econometric analysis of real estate market, predictive and studentized residuals, identification of specific transactions

© University of Szczecin

This work is licensed under the Creative Commons Attribution-ShareAlike 4.0 International Public License.

The Econometric Procedures of Specific Transaction Identification

Data publikacji: 16 cze 2017

Zakres stron: 20 - 30

Otrzymano: 09 sty 2017

Przyjęty: 22 mar 2017

DOI: https://doi.org/10.1515/foli-2017-0002

Słowa kluczoweeconometric analysis of real estate market, predictive and studentized residuals, identification of specific transactions

© University of Szczecin

This work is licensed under the Creative Commons Attribution-ShareAlike 4.0 International Public License.

Słowa kluczowe
econometric analysis of real estate market, predictive and studentized residuals, identification of specific transactions