Measurement Errors in the Estimation of Home Value

Abstract
Home value plays an important role in a variety of fields of research. In this paper, three commonly used measures of home value are evaluated and compared using a framework developed by Jöreskog and Goldberger (1975) for estimation of causal models containing unobserved variables. The paper extends ideas presented by Kain and Quigley (1972) and Kish and Lansing (1954).

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