Using the Analytic Hierarchy Process in House Selection

J'Noel Ball and Venkat C Srinivasan

The Journal of Real Estate Finance and Economics, 1994, vol. 9, issue 1, 69-85

Abstract: The house selection process involves an assessment by the buyer of a myriad of qualitative and quantitative factors before negotiating a purchase. The complex interplay among these factors along with the limitations of humans to systematically consider the complex information set, create the potential to induce serious inconsistencies in decisions. This paper presents a formal judgmental model of the house selection process using the Analytic Hierarchy Process (AHP). The model will allow the buyer to consistently evaluate property attributes. We also present a simple extension of the model to help the prospective buyer arrive at an attribute weighted price that can be used for comparative rankings. Copyright 1994 by Kluwer Academic Publishers

Date: 1994
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Persistent link: https://EconPapers.repec.org/RePEc:kap:jrefec:v:9:y:1994:i:1:p:69-85

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The Journal of Real Estate Finance and Economics is currently edited by Steven R. Grenadier, James B. Kau and C.F. Sirmans

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