| Title |
The Study of Verification for Real Estates Price Index Formulas's Susceptibility |
| Authors |
Lee Dong-Un ; Lim Nam-Gi ; Kim Young-Su |
| Keywords |
Susceptibility ; Laspeyres formula ; axiomatic index theory ; permutation test ; inversion test |
| Abstract |
Usually, Importance degree of individual real estate is different.and according to the quality, change aspect of value appears differently among equal period. real estate index is a concept which synthesizes various kinds real estate's prices for grasping real estate's general price. Generally, Real estate index is made out using price index formulas such as Laspeyres formula, Paasche formula, or etc.. but, according to research of Boskin etc.., price index formulas have some upward bias.In this paper, we attempt to grasp real estate index's characteristic by adopting simple screening tests to price index formulas with axiomatic index theory. |