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Application of Passive Methods of Robust Estimation: Baarda's and Pope's in Real Estate Market Analysis

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  • Śpiewak Beata

    (Faculty of Mining Surveying and Environmental Engineering, AGH University of Science and Technology)

Abstract

The article presents the results of research into the appraisal of the usefulness and effectiveness of passive methods of robust estimation in real estate market analysis. Two methods are considered, i.e.: Baarda's and Pope's. The research is based on a database of flats sold in Kraków in 2015.It has been proved that algorithms of robust estimation allow for eliminating outlying transactions from the collected database, causing the set of observations to become coherent and free of observations which might be fraught with gross error caused by the human factor.

Suggested Citation

  • Śpiewak Beata, 2018. "Application of Passive Methods of Robust Estimation: Baarda's and Pope's in Real Estate Market Analysis," Real Estate Management and Valuation, Sciendo, vol. 26(1), pages 5-15, March.
  • Handle: RePEc:vrs:remava:v:26:y:2018:i:1:p:5-15:n:1
    DOI: 10.2478/remav-2018-0001
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    References listed on IDEAS

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    1. Douglas M. Hawkins, 1980. "Critical Values for Identifying Outliers," Journal of the Royal Statistical Society Series C, Royal Statistical Society, vol. 29(1), pages 95-96, March.
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    More about this item

    Keywords

    robust estimation; real estate market analysis; residential properties; Baarda's method; Pope's method;
    All these keywords.

    JEL classification:

    • C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • R30 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - General
    • R39 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Other

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