Econometrics, linear programming and valuation: Reply

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Abstract
The use of linear programming valuation implies an underlying acceptance of efficient market pricing. Comparables are sample evidence and, therefore, a valid methodology requires an inferential basis. Small sample sizes and multicollinearity are not determining issues in preventing the use of a statistical methodology. Given the reality of learning by experience, an appropriate methodology should formally, and explicitly, modify subjective views with new observed information.

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