Publications [#258246] of Alan E. Gelfand
search .Papers Published
- Knight, JR; Sirmans, CF; Gelfand, AE; Ghosh, SK. "Analyzing real estate data problems using the Gibbs sampler." Real Estate Economics 26.3 (January, 1998): 469-492. [doi]
(last updated on 2023/06/01)Abstract:
Real estate data are often characterized by data irregularities: missing data, censoring or truncation, measurement error, etc. Practitioners often discard missing-or censored-data cases and ignore measurement error. We argue here that an attractive remedy for these irregularity problems is simulation-based model fitting using the Gibbs sampler. The style of the paper is primarily pedagogic, employing a simple illustration to convey the essential ideas, unobscured by implementation complications. Focusing on the missing-data problem, we show dramatic improvement in inference by retaining rather than deleting cases of partially observed data. We also detail Gibbs-sampler usage for other data problems.