Hodgson, Douglas; Slade, Barrett; Vorkink, Keith - In: The Journal of Real Estate Finance and Economics 32 (2006) 2, pp. 151-168
Constant-quality commercial indices generated by ordinary least squares may suffer an efficiency loss due to leptokurtosis caused by outliers in transactions data. When the subsequent nonnormality occurs, substantial improvement in index precision is obtained by estimating the hedonic model...