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Comparing Rough Set Theory with Multiple Regression Analysis as Automated Valuation Methodologies

Author

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  • Maurizio d’Amato

    () (1st Faculty of Engineering, Technical University of Bari, Politecnico di Bari, Italy)

Abstract

This paper focuses on the problem of applying rough set theory to mass appraisal. This methodology was first introduced by a Polish mathematician, and has been applied recently as an automated valuation methodology by the author. The method allows the appraiser to estimate a property without defining econometric modeling, although it does not give any quantitative estimation of marginal prices. In a previous paper by the author, data were organized into classes prior to the valuation process, allowing for the if-then, or right “rule” for each property class to be defined. In that work, the relationship between property and class of valued was said to be dichotomic.

Suggested Citation

  • Maurizio d’Amato, 2007. "Comparing Rough Set Theory with Multiple Regression Analysis as Automated Valuation Methodologies," International Real Estate Review, Asian Real Estate Society, vol. 10(2), pages 42-65.
  • Handle: RePEc:ire:issued:v:010:n:02:2007:p:42-65
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    References listed on IDEAS

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    More about this item

    Keywords

    mass appraisal; property valuation; rough set theory; valued tolerance relation;

    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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