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Linear Programming in a Multi-Criteria Model for Real Estate Appraisal

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Computational Science and Its Applications – ICCSA 2016 (ICCSA 2016)

Part of the book series: Lecture Notes in Computer Science ((LNTCS,volume 9786))

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Abstract

In real estate appraisal, research has long been addressed to the experimentation of multi-parametric models able to reduce the margin of error of the estimate and to overcome or to limit, as far as possible, the problems and difficulties that the use of these models often involves. On the one hand, researchers are trying to overcome the essentially deductive approach that has characterized the traditional discipline, and on the other, to minimize the problems arising from a merely inductive approach. The real estate market is characterized by an inelastic supply and by properties whose complexity and differentiation often involve, also and especially on the demand side, subjective and psychological elements that could distort the results of an inductive investigation. This problem can be overcome by increasing the size of the survey sample, and by using statistical analysis. Statistical analyses, however, are often based on very strong assumptions. A multi-criteria valuation model that uses linear programming is applied to the real estate market. The model, integrated with the inductive and deductive approach, exceeds many of the assumptions of the best known statistical approaches.

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Author information

Authors and Affiliations

  1. University of Basilicata, Viale dell’Ateneo Lucano, 85100, Potenza, Italy

    Benedetto Manganelli

  2. University of Naples “Federico II”, Piazzale Vincenzo Tecchio, 80125, Naples, Italy

    Pierfrancesco De Paola & Vincenzo Del Giudice

Authors
  1. Benedetto Manganelli
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  2. Pierfrancesco De Paola
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  3. Vincenzo Del Giudice
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Corresponding author

Correspondence to Benedetto Manganelli .

Editor information

Editors and Affiliations

  1. University of Perugia , Perugia, Italy

    Osvaldo Gervasi

  2. University of Basilicata , Potenza, Italy

    Beniamino Murgante

  3. Covenant University , Ota, Nigeria

    Sanjay Misra

  4. University of Minho , Braga, Portugal

    Ana Maria A. C. Rocha

  5. Polytechnic University , Bari, Italy

    Carmelo M. Torre

  6. Monash University , Clayton, Victoria, Australia

    David Taniar

  7. Kyushu Sangyo University , Fukuoka, Japan

    Bernady O. Apduhan

  8. Saint Petersburg State University , Saint Petersburg, Russia

    Elena Stankova

  9. Beijing University of Posts & Telecommunication , Beijing, China

    Shangguang Wang

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Manganelli, B., De Paola, P., Del Giudice, V. (2016). Linear Programming in a Multi-Criteria Model for Real Estate Appraisal. In: Gervasi, O., et al. Computational Science and Its Applications – ICCSA 2016. ICCSA 2016. Lecture Notes in Computer Science(), vol 9786. Springer, Cham. https://doi.org/10.1007/978-3-319-42085-1_14

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  • DOI: https://doi.org/10.1007/978-3-319-42085-1_14

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  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-319-42084-4

  • Online ISBN: 978-3-319-42085-1

  • eBook Packages: Computer ScienceComputer Science (R0)

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