Please use this identifier to cite or link to this item:
http://hdl.handle.net/10071/12721
Author(s): | Ferreira, F. Spahr, R. Sunderman, M. |
Date: | 2016 |
Title: | Using multiple criteria decision analysis (MCDA) to assist in estimating residential housing values |
Volume: | 20 |
Number: | 4 |
Pages: | 354 - 370 |
ISSN: | 1648-715X |
DOI (Digital Object Identifier): | 10.3846/1648715X.2015.1122668 |
Keywords: | Decision support Housing valuation MCDA Residential real estate |
Abstract: | Considerable literature exists regarding the complexity of the residential real estate appraisal process and the methods employed to determine initial listing prices as estimates of intrinsic market prices. Deviations in residential real estate intrinsic values occur due to a multiplicity of attributes and explanatory factors requiring consideration. We conduct a panel study using a Multiple Criteria Decision Analysis (MCDA) based framework that utilizes the skills and knowledge of a panel of residential real estate professionals (i.e. appraisers and realtors). We demonstrate how cognitive mapping and the Measuring Attractiveness by a Categorical Based Evaluation Technique (MACBETH) may assist in estimating appropriate offer/sale prices and strengthening current valuation approaches such as using comparables and/or hedonic modeling. The managerial implications of our MCDA-based framework and some avenues for future research are also presented. |
Peerreviewed: | yes |
Access type: | Open Access |
Appears in Collections: | BRU-RI - Artigos em revistas científicas internacionais com arbitragem científica |
Files in This Item:
File | Description | Size | Format | |
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Ferreira_et_al___2016_.pdf | Versão Editora | 1,22 MB | Adobe PDF | View/Open |
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