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Regression-fuzzy approach to land valuation

Author

Listed:
  • Marija Bogataj
  • Danijela Tuljak Suban
  • Samo Drobne

Abstract

In this paper, we demonstrate that the fuzzy pricing model can improve regression analysis in applications where non-smoothness appears. Combining the fuzzy and regression approaches it is capable of modelling complex non-linearities. The application of this approach describes an effort to design a regression-fuzzy system to estimate real estate market values, especially for vacant urban plots. The results are compared with those obtained using a traditional multiple regression model only. The changes of parameters in the domain of independent variables of the regression function are determined by the analysis of membership functions defining the terms of the fuzzy model. The paper also describes possible future research. The suggested method is interesting for real estate appraisers, real estate companies, and bureaus because it provides a better overview of location prices. The suggested approach could be also used in various other economic and business analyses. Copyright Springer-Verlag 2011

Suggested Citation

  • Marija Bogataj & Danijela Tuljak Suban & Samo Drobne, 2011. "Regression-fuzzy approach to land valuation," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 19(3), pages 253-265, September.
    • Handle: RePEc:spr:cejnor:v:19:y:2011:i:3:p:253-265
    DOI: 10.1007/s10100-010-0188-x
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    References listed on IDEAS

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    1. Aragones-Beltran, P. & Aznar, J. & Ferris-Onate, J. & Garcia-Melon, M., 2008. "Valuation of urban industrial land: An analytic network process approach," European Journal of Operational Research, Elsevier, vol. 185(1), pages 322-339, February.
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    Cited by:

    1. Andrej Kastrin & Janez Povh & Lidija Zadnik Stirn & Janez Žerovnik, 2021. "Methodologies and applications for resilient global development from the aspect of SDI-SOR special issues of CJOR," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 29(3), pages 773-790, September.
    2. Jannet C. Bencure & Nitin K. Tripathi & Hiroyuki Miyazaki & Sarawut Ninsawat & Sohee Minsun Kim, 2019. "Development of an Innovative Land Valuation Model (iLVM) for Mass Appraisal Application in Sub-Urban Areas Using AHP: An Integration of Theoretical and Practical Approaches," Sustainability, MDPI, vol. 11(13), pages 1-17, July.
    3. Bogataj, David & Battini, Daria & Calzavara, Martina & Persona, Alessandro, 2019. "The ageing workforce challenge: Investments in collaborative robots or contribution to pension schemes, from the multi-echelon perspective," International Journal of Production Economics, Elsevier, vol. 210(C), pages 97-106.
    4. Bovkir, Rabia & Aydinoglu, Arif Cagdas, 2018. "Providing land value information from geographic data infrastructure by using fuzzy logic analysis approach," Land Use Policy, Elsevier, vol. 78(C), pages 46-60.
    5. Bogataj, David & Bogataj, Marija & Drobne, Samo, 2019. "Interactions between flows of human resources in functional regions and flows of inventories in dynamic processes of global supply chains," International Journal of Production Economics, Elsevier, vol. 209(C), pages 215-225.
    6. Tibor Csendes & Janez Povh & Lidija Stirn & Janez Žerovnik, 2011. "Editorial," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 19(3), pages 251-252, September.

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