Determining the utility functions of criteria used in the evaluation of real estate

Luiz Flávio Autran Monteiro Gomes and Luís Alberto Duncan Rangel

International Journal of Production Economics, 2009, vol. 117, issue 2, 420-426

Abstract: This article presents an application of the UTA method and its variant UTA-CR to determining utility functions for the multicriteria evaluation of residential real estate. Data for the city of Volta Redonda, Brazil, were used in this study. Unlike UTA, UTA-CR makes use of the decision agents' preferences in relation to a set of criteria to determine a ranking of the alternatives. It was concluded that UTA-CR manages to obtain utility functions closer to the preferences of the decision agents as compared to these that result from the use of UTA. This demonstrates an important advantage of UTA-CR over UTA.

Keywords: Utility; additive; method; UTA; method; UTA-CR; method; Multicriteria; decision; aiding; Residential; real; estate; market (search for similar items in EconPapers)
Date: 2009
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0925-5273(08)00386-1
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:proeco:v:117:y:2009:i:2:p:420-426

Access Statistics for this article

International Journal of Production Economics is currently edited by Stefan Minner

More articles in International Journal of Production Economics from Elsevier
Bibliographic data for series maintained by Catherine Liu ().