An Application of an Econometric Model to Describe the Behavior of Buyers and Sellers.
Abstract
The study is an attempt to describe the behavior of buyers and sellers. Four econometric models were developed using data obtained on sales consummated. The models, whose coefficients were estimated using stepwise linear regression, illustrated relationships between asked price, sale price, physical parameters of the goods and time of sale. Both statistical and economic interpretation were given to the results obtained. The problems of multicollinearity, heteroscedasticity and explicit treatment of the time variable were discussed. (Author)
Document Details
- Document Type
- Technical Report
- Publication Date
- Jun 01, 1974
- Accession Number
- AD0783777
Entities
People
- James Frederick Callahan
Organizations
- Naval Postgraduate School