A Further Discussion of Optimal Comparable Selection and Weighting, and a Response to Green
在Green(1994)修正的模型框架下,检验其关于最小方差估计量优于最小变异系数估计量的主张,发现该主张缺乏充分证据。
Using a revised model framework that views expected adjusted prices of corn‐parables as random variables, Green (1994) demonstrates that Vandell's (1992) minimum variance estimator is preferred under the classical ordinary least squares (OLS) assumptions. As a result, the minimum coefficient of variation estimator proposed by Gau, et al. (1993) is preferred only when the classical OLS assumptions are relaxed. We demonstrate that, even under Green's revised framework, there is not sufficient evidence in the paper to justify this claim.