Assumptions for valuation using statistical models

The article analyzes the essence of assumptions when using mathematical and statistical models in the valuation of various objects. The necessity of their substantiation and reflection in the assessment reports is indicated. It is noted that model specification assumptions do not fall within the definition of “assumptions” adopted in the valuation standards. It is proposed to use the maximum likelihood method to substantiate the assumptions about the specification of the statistical evaluation model. An example of the description of such assumptions in the apartment appraisal report is given.