Should markets be priced assuming that nothing will go wrong ("random
shocks") or should markets be priced assuming that something will go wrong ?
If the answer is the latter, then shouldn't some margin of error provided
for the consequences of these "random shocks" ?
Are these events truly rando
Howdy,
I was thinking about a self-assessment scheme I read
about once for property tax valuations. That got me
wondering this: In most localities is seems that real
estate markets are pretty heterogeneous in terms of
both land characteristics and extant buildings, and
that the markets might ofte