A Methodology for Constructing Vacant Land Price Indices
提出一种利用评估价值修正测量误差的新方法，用于估算州和都市区内子区域的空地价格趋势，并在康涅狄格州41个城镇验证了数据可得性与估计精度之间的平衡。
Existing estimates of movements in vacant land prices are limited to a few metropolitan areas and infrequent time intervals. This paper develops a new methodology for estimating vacant land price trends for subareas within states and metropolitan areas. It utilizes data from a sales ratio study, a large database available in most states. The methodology uses assessed value to control for “hedonic characteristics” associated with the property and its location. A model is developed to correct assessed value for measurement errors. Statistical results for forty‐one Connecticut towns indicate that the model provides a reasonable compromise between data availability and accuracy of price trend estimates.