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Application of the Likert and Osgood Scales to Quantify the Qualitative Features of Real Estate Properties

Author

Listed:
  • Foryś Iwona

    (University of Szczecin, Faculty of Economics and Management, Institute of Econometrics and Statistics, Mickiewicza 64, 71-101 Szczecin, Poland)

  • Gaca Radosław

    (BBN Domator, Gdańska 5/3a, 85-005 Bydgoszcz, Poland)

Abstract

The variables used in statistical research can be measured on different scales. According to Stevens the most common division of measurement scales distinguish four main types: nominal, ordinal, interval and ratio. The chosen scale of measurement implies further the possibility of applying certain statistical methods. For socio-economic research it is frequent that among independent variables appear variables of a qualitative nature. This study presents the idea of the application of the Likert and Osgood scales for the evaluation and quantification of qualitative variables in the real estate valuation process.

Suggested Citation

  • Foryś Iwona & Gaca Radosław, 2016. "Application of the Likert and Osgood Scales to Quantify the Qualitative Features of Real Estate Properties," Folia Oeconomica Stetinensia, Sciendo, vol. 16(2), pages 7-16, December.
    • Handle: RePEc:vrs:foeste:v:16:y:2016:i:2:p:7-16:n:1
    DOI: 10.1515/foli-2016-0021
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    Citations

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    Cited by:

    1. Dmytrów Krzysztof & Gdakowicz Anna & Putek-Szeląg Ewa, 2020. "Methods of Analyzing Qualitative Variable Correlation on the Real Estate Market," Real Estate Management and Valuation, Sciendo, vol. 28(1), pages 80-90, March.
    2. Dmytrów Krzysztof & Gnat Sebastian, 2019. "Application of AHP Method in Assessment of the Influence of Attributes on Value in the Process of Real Estate Valuation," Real Estate Management and Valuation, Sciendo, vol. 27(4), pages 15-26, December.
    3. Dmytrów Krzysztof & Gdakowicz Anna & Putek-Szeląg Ewa, 2019. "Statistical Relations of the Qualitative Attributes of Real Properties Subject to Mass Appraisal," Folia Oeconomica Stetinensia, Sciendo, vol. 19(2), pages 25-37, December.
    4. Gdakowicz Anna & Putek-Szeląg Ewa, 2020. "The Use of Statistical Methods for Determining Attribute Weights and the Influence of Attributes on Property Value," Real Estate Management and Valuation, Sciendo, vol. 28(4), pages 33-47, December.

    More about this item

    Keywords

    real estate valuation; measuring scales; qualitative variables;
    All these keywords.

    JEL classification:

    • C50 - Mathematical and Quantitative Methods - - Econometric Modeling - - - General
    • R30 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - General

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