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Erschienen in:
2002 | OriginalPaper | Buchkapitel
Comparison of the Accuracy of the Minimum-Variance Grid Method and the Least Squares Method — a Non-linear Extension
verfasst von : Kwong Wing Chau, Wei Huang, Fung Fai Ng, Hin Man Louise Ng-Mak
Erschienen in: Real Estate Valuation Theory
Verlag: Springer US
Enthalten in: Professional Book Archive
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The Minimum-Variance Grid method developed by Vandell (1991) has laid down the theoretical foundation for the selection of a set of optimal weights for property valuation based on transaction prices of comparables. This method has also been shown by Lai and Way (1996) to be more accurate compared with valuation based on linear multiple regression. However, Lai and Wang’s results do not hold universally. The paper identifies the necessary and sufficient conditions for Lai and Wang’s results to hold.