Abstract

http://ssrn.com/abstract=9232
 
 

Citations



 


 



Sample Selection and Biases in Local House Value Indices


Dean H. Gatzlaff


Florida State University

Donald R. Haurin


Ohio State University (OSU) - Department of Economics

February, 1997


Abstract:     
Analysis of cross-sectional or intertemporal variations in house values among localities requires reliable house value indices. However, prior studies applying the hedonic method to transaction data have reported price series that may be biased. Our paper investigates a possible cause of bias and uses a censored regression technique extended to an intertemporal model to derive an unbiased index. We apply our method to 1971-1991 data from the Miami, Florida MSA and find evidence of time varying amounts of bias. Our results suggest that prior studies using the hedonic method and samples consisting only of sold houses have understated the intertemporal variability of house prices.

JEL Classification: C24, R31, E3

working papers series





Not Available For Download

Date posted: March 7, 1997  

Suggested Citation

Gatzlaff, Dean H. and Haurin, Donald R., Sample Selection and Biases in Local House Value Indices (February, 1997). Available at SSRN: http://ssrn.com/abstract=9232

Contact Information

Dean H. Gatzlaff (Contact Author)
Florida State University ( email )
College of Business, Center for Real Estate
821 Academic Way, Rovetta Business Bldg
Tallahassee, FL 32306-1110
United States
850-644-4071 (Phone)
850-644-4077 (Fax)
Donald R. Haurin
Ohio State University (OSU) - Department of Economics ( email )
154 N. Oval Mall
1010G Derby Hall
Columbus, OH 43210-1172
United States
614-292-0482 (Phone)
614-292-9530 (Fax)
Feedback to SSRN


Paper statistics
Abstract Views: 386

© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo2 in 0.281 seconds