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Real estate and land property automated valuation systems: A taxonomy and conceptual model

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  • GLUMAC Brano
  • DES ROSIERS François

Abstract

Automated valuation models have been in use at least for the last fifty years in both academia and practice, while a proper definition was coined only in the last decade. This could be mostly backed by the fact that research done on the automated valuation models is mostly empirical and evidently lacking a conceptual framework. This imply two-sided contribution of this paper, a taxonomy and a conceptual framework.

Suggested Citation

  • GLUMAC Brano & DES ROSIERS François, 2018. "Real estate and land property automated valuation systems: A taxonomy and conceptual model," LISER Working Paper Series 2018-09, LISER.
  • Handle: RePEc:irs:cepswp:2018-09
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    References listed on IDEAS

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    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    automated valuation model; computer-assisted mass appraisal; real estate valuation decision support systems; automated valuation system; non-hierarchical taxonomy; conceptual model;

    JEL classification:

    • C50 - Mathematical and Quantitative Methods - - Econometric Modeling - - - General
    • D46 - Microeconomics - - Market Structure, Pricing, and Design - - - Value Theory
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services
    • O21 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Planning Models; Planning Policy
    • Q15 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Land Ownership and Tenure; Land Reform; Land Use; Irrigation; Agriculture and Environment
    • R15 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Econometric and Input-Output Models; Other Methods
    • R20 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - General
    • R30 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - General

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