Brief Abstract
The current discussion about the detection of vertical inequity in mass valuation often ignores the important question of how to pick the best market value proxy. This presentation expands on previous research and explains this issue clearly. It uses a monte-carlo procedure based on a real-life dataset to measure how bias varies according to which market value proxy is chosen. A new, statistically-superior market value proxy will be proposed.
Start Date
3-5-2025 9:00 AM
End Date
3-5-2025 10:00 AM
Proposing a new market value proxy for vertical inequity detection
The current discussion about the detection of vertical inequity in mass valuation often ignores the important question of how to pick the best market value proxy. This presentation expands on previous research and explains this issue clearly. It uses a monte-carlo procedure based on a real-life dataset to measure how bias varies according to which market value proxy is chosen. A new, statistically-superior market value proxy will be proposed.