House selection via the internet by considering homebuyers’ risk attitudes with S-shaped utility functions

Hui-Ping Ho, Ching-Ter Chang and Cheng-Yuan Ku

European Journal of Operational Research, 2015, vol. 241, issue 1, 188-201

Abstract: The widespread use of the Internet has significantly changed the behavior of homebuyers. Using online real estate agents, homebuyers can rapidly find some modern houses that meet their needs; however, most current online housing systems provide limit features. In particular, existing systems fail to consider homebuyers’ housing goals and risk attitudes. To increase effectiveness, online real estate agents should provide an efficient matching mechanism, personalized service and house ranking with the aim of increasing both buyers’ satisfaction and deal rate. An efficient online real estate agent should provide an easy way for homebuyers to find (rank) a suitable house (alternatives) with consideration of their different housing philosophies and risk attitudes. In order to comprehend these ambiguous housing goals and risk attitudes, it is also indispensable to determine a satisfaction level for each fuzzy goal and constraint.

Keywords: Decision support systems; Multiple objective programming; Fuzzy goal programming; Utility functions; Risk attitude (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0377221714006444
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:ejores:v:241:y:2015:i:1:p:188-201

DOI: 10.1016/j.ejor.2014.08.009

Access Statistics for this article

European Journal of Operational Research is currently edited by Roman Slowinski, Jesus Artalejo, Jean-Charles. Billaut, Robert Dyson and Lorenzo Peccati

More articles in European Journal of Operational Research from Elsevier
Bibliographic data for series maintained by Catherine Liu ().