Resampling Techniques for Real Estate Appraisals: Testing the Bootstrap Approach

Vincenzo Del Giudice, Francesca Salvo and Pierfrancesco De Paola
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Vincenzo Del Giudice: University of Naples “Federico II”, Department of Industrial Engineering, Piazzale Vincenzo Tecchio 80, 80125 Naples, Italy
Francesca Salvo: University of Calabria, Department of Engineering for the Environment and the Territory and Chemical Engineering, Via Pietro Bucci Cubo 46b, 87036 Rende, Italy
Pierfrancesco De Paola: University of Naples “Federico II”, Department of Industrial Engineering, Piazzale Vincenzo Tecchio 80, 80125 Naples, Italy

Sustainability, 2018, vol. 10, issue 9, 1-16

Abstract: Applied to real estate markets analysis, the resampling methods aim to contribute to the knowledge growth of real estate market dynamics, overcoming the issues related to the data scarcity and operational limits of traditional statistical theory. Among resampling methods, the Bootstrap technique appears to be the most suitable for the interpretation of real estate phenomena. In this study, for residential properties located in Cosenza (Calabria Region, Italy), a Bootstrap approach has been used in order to determine the marginal prices of the real estate characteristics detected, comparing the results with those obtainable with a traditional Multiple Regression Analysis.

Keywords: resampling methods; Bootstrap technique; Multiple Regression Analysis; Real Estate Appraisals; marginal prices (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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