Econometrics, linear programming and valuation : reply
Matysiak, G.A.
Econometrics, linear programming and valuation : reply - 1992 - Journal of Property Research 9(2) Summer 1992, 114-121(4) .
The use of linear programming valuation implies an underlying acceptance of efficient market pricing. Comparables are sample evidence and, therefore, a valid methodology requires an inferential basis. Small sample sizes and multicollinearity are not determining issues in preventing the use of a statistical methodology. Given the reality of learning by experience, an appropriate methodology should formally, and explicitly, modify subjective views with new observed information. Response to an earlier article (Abs45359). (Journal abstract)
LINEAR PROGRAMMING
Econometrics, linear programming and valuation : reply - 1992 - Journal of Property Research 9(2) Summer 1992, 114-121(4) .
The use of linear programming valuation implies an underlying acceptance of efficient market pricing. Comparables are sample evidence and, therefore, a valid methodology requires an inferential basis. Small sample sizes and multicollinearity are not determining issues in preventing the use of a statistical methodology. Given the reality of learning by experience, an appropriate methodology should formally, and explicitly, modify subjective views with new observed information. Response to an earlier article (Abs45359). (Journal abstract)
LINEAR PROGRAMMING