Sample Selection Bias in Estimating Housing Sales Prices

G. Donald Jud () and Terry G. Seaks ()
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G. Donald Jud: Department of Finance University of North Carolina at Greensboro Greensboro, North Carolina 27412, http://www.uncg.edu/bae/
Terry G. Seaks: Department of Economics University of North Carolina at Greensboro Greensboro, North Carolina 27412, http://www.uncg.edu/bae/econ/

Journal of Real Estate Research, 1994, vol. 9, issue 3, pages 289-298

Abstract: This paper explores the bias in estimates of housing price appreciation that arises because of problems of sample selection. As suggested by Haurin and Hendershott, sample selection potentially is a serious problem because studies normally are based on samples of only homes that have sold, not all houses. Using the procedure developed by Heckman, the empirical results of this study provide confirmation of the significance of the housing sample selection problem.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 1994
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