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Econometric Identification of the Impact of Real Estate Characteristics Based on Predictive and Studentized Residuals

Author

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  • Doszyń Mariusz

    (Katedra Ekonometrii Uniwersytet Szczeciński Poland)

  • Gnat Sebastian

    (Katedra Badań Operacyjnych i Zastosowań Matematyki w Ekonomii Uniwersytet Szczeciński Poland)

Abstract

The paper proposes a means of determining the impact of real estate characteristics based on the residuals of an accordingly specified econometric model. The econometric model contains explanatory variables whose values are easily measurable. Then, the hypothesis that the residuals of the econometric model encompass the impact of specific factors indicating that the real estate is atypical is verified, thus supporting real estate market analysis. The work describes various types of residuals (predictive and studentized residuals).

Suggested Citation

  • Doszyń Mariusz & Gnat Sebastian, 2017. "Econometric Identification of the Impact of Real Estate Characteristics Based on Predictive and Studentized Residuals," Real Estate Management and Valuation, Sciendo, vol. 25(1), pages 84-92, March.
    • Handle: RePEc:vrs:remava:v:25:y:2017:i:1:p:84-92:n:5
    DOI: 10.1515/remav-2017-0005
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    References listed on IDEAS

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    1. Arslan, Yavuz & Kanık, Birol & Köksal, Bülent, 2015. "Anticipated vs. unanticipated house price movements and transaction volume," Journal of Housing Economics, Elsevier, vol. 28(C), pages 121-129.
    2. Bin, Okmyung, 2004. "A prediction comparison of housing sales prices by parametric versus semi-parametric regressions," Journal of Housing Economics, Elsevier, vol. 13(1), pages 68-84, March.
    3. Kiefer, Hua, 2011. "The house price determination process: Rational expectations with a spatial context," Journal of Housing Economics, Elsevier, vol. 20(4), pages 249-266.
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