The Econometric Procedures of Specific Transaction Identification

Doszyń Mariusz (), Gnat Sebastian () and Bas Marcin ()
Additional contact information
Doszyń Mariusz: University of Szczecin Faculty of Economics and Management Institute of Econometrics and Statistics Mickiewicza 64, 71-101 Szczecin, Poland
Gnat Sebastian: University of Szczecin Faculty of Economics and Management Institute of Econometrics and Statistics Mickiewicza 64, 71-101 Szczecin, Poland
Bas Marcin: Independent researcher, Szczecin, Poland

Folia Oeconomica Stetinensia, 2017, vol. 17, issue 1, 20-30

Abstract: The paper presents the econometric procedures of identifying specific transactions, in which atypical conditions or attributes may occur. These procedures are based on studentized and predictive residuals of the accordingly specified econometric models. The dependent variable is a unit transactional price, and explanatory variables are both the real properties’ attributes and accordingly defined artificial binary variables. The utility of the proposed method has been verified by means of a real market data base. The proposed procedures can be helpful during the property valuation process, making it possible to reject real properties that are specific (both from the point of view of the transaction conditions and the properties’ attributes) and, consequently, to select an appropriate set of similar attributes that are essential for the valuation process.

Keywords: econometric analysis of real estate market; predictive and studentized residuals; identification of specific transactions (search for similar items in EconPapers)
Date: 2017
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1515/foli-2017-0002 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:vrs:foeste:v:17:y:2017:i:1:p:20-30:n:2

DOI: 10.1515/foli-2017-0002

Access Statistics for this article

Folia Oeconomica Stetinensia is currently edited by Waldemar Tarczyński

More articles in Folia Oeconomica Stetinensia from Sciendo
Bibliographic data for series maintained by Peter Golla ().