Eres : Digital Library : Works

Paper eres2003_164:
Mass Appraisal With Genetic Fuzzy Rule-Based Systems

id eres2003_164
authors González, Marco; Formoso Carlos
year 2003
title Mass Appraisal With Genetic Fuzzy Rule-Based Systems
source 10th European Real Estate Society Conference (10-13 June 2003) Helsinki, Finland
summary The use of mass appraisal techniques is a common practice in real estate taxation. The models of real estate market have several sources of imprecision, such as errors in the transitions between submarkets, generating difficulties to construct mass appraisal models. Fuzzy Rule-Based Systems (FRBS) are able to generate flexible systems and may be useful in considering vagueness or imprecision presents in real estate market. This paper verifies the extraction of fuzzy rules from real estate data through genetic algorithms, performing Genetic Fuzzy Rule-Based Systems (GFRBS). These GFRBS used TSK rules, which are formed by linear equations and may be seen as hedonic models. Two approaches were tested. The first one is a GFRBS based on the gross building area of the properties, tested in systems with 3 to 7 rules. In another view, a system of rules based on location of the properties was constructed, in which each rule is specialized in determined region, and contributes to a general estimate. The systems were implemented with data of the city of Porto Alegre (Brazil), comparing the fuzzy models with a traditional hedonic regression model. The results have indicated the potential of fuzzy rules in mass appraisal.
keywords Real estate appraisal; fuzzy rules; hedonic models; mass appraisal; CAMA
series ERES:conference
discussion No discussions. Post discussion ...
session Session 7, Valuation Methodology 1
last changed 2008/12/29 19:09
HOMELOGIN (you are user _anon_275160 from group guest) Powered by SciX Open Publishing Services 1.002