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Total Grid Estimation

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  • Kelley Pace

Abstract

This article provides a matrix representation of the adjustment grid estimator. From this representation, one can invoke the Gauss-Markov theorem to examine the efficiency of ordinary least squares (OLS) and the grid estimator that uses OLS estimates of the adjustments (the “plug-in” grid method). In addition, this matrix representation suggests a generalized least squares version of the grid method, labeled herein as the total grid estimator. Based on the empirical experiments, the total grid estimator outperformed the plug-in grid estimator, which in turn outperformed OLS.

Suggested Citation

  • Kelley Pace, 1998. "Total Grid Estimation," Journal of Real Estate Research, Taylor & Francis Journals, vol. 15(1), pages 101-114, January.
    • Handle: RePEc:taf:rjerxx:v:15:y:1998:i:1:p:101-114
    DOI: 10.1080/10835547.1998.12090914
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    Cited by:

    1. David Brasington & Don Haurin, 2005. "Capitalization of Parent, School, and Peer Group Components of School Quality into House Price," Departmental Working Papers 2005-04, Department of Economics, Louisiana State University.

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