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Weighting Two Quality Indexes In Valuation Theory: Survival Function And An Alternative Technique/Ponderando Dos Índices De Calidad En Teoría De Valoración: Función De Supervivencia Y Una Técnica Alternativa

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Author Info

  • FRANCO NICOLÁS, M.

    ()
    (Dpto. Estadística e Investigación Operativa, Universidad de Murcia;Campus de Espinardo, 30100 Murcia, Spain.)

  • VIVO MOLINA, J.M.

    ()
    (Dpto. Métodos Cuantitativos para la Economía, Universidad de Murcia Campus de Espinardo, 30100 Murcia, Spain.)

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    Abstract

    In this paper, we analyze the different weighting techniques used in the valuation theory to correct and fi t the market value of an asset with respect to the appraisals from each quality index; particularly in the valuation method of the two functions, under both independence and dependence of two quality indexes of an asset, and we expand these techniques by their survival functions. Furthermore, we propose a new tool to weight two quality indexes based on the mode values of its marginal distribution functions, which extend the variety of the possible weighted models to approach the market value. Finally, we give an application of these weighted models in one example of land pricing, and thus the assessments of the land property according to each weighted model are proposed. En este trabajo, analizamos las diferentes técnicas de ponderación utilizadas en teoría de valoración para corregir y ajustar el valor de mercado de un bien con respecto a las valoraciones con cada uno de los índices de calidad; concretamente en el método de valoración de las dos funciones, bajo independencia y dependencia de dos índices de calidad de un bien, y ampliamos estas técnicas mediante sus funciones de supervivencia. Además, proponemos una nueva herramienta para ponderar dos índices de calidad basada en los valores modales de sus funciones de distribución marginales, extendiendo la variedad de los modelos ponderados posibles para aproximar el valor de mercado. Finalmente, damos una aplicación de estos modelos ponderados en un ejemplo de tasación de tierras, proponiéndose valoraciones de la finca según cada modelo ponderado.

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    Bibliographic Info

    Article provided by Estudios de Economía Aplicada in its journal Estudios de Economía Aplicada.

    Volume (Year): 25 (2007)
    Issue (Month): (Abril)
    Pages: 83-106

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    Handle: RePEc:lrk:eeaart:25_1_4

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    Related research

    Keywords: Valuation method; survival function; quality index; weighted model/Método de valoración; función de supervivencia; índice de calidad; modelo ponderado.;

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    1. van Dorp J.R. & Kotz S., 2002. "The Standard Two-Sided Power Distribution and its Properties: With Applications in Financial Engineering," The American Statistician, American Statistical Association, vol. 56, pages 90-99, May.
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