An ANP framework for property pricing combining quantitative and qualitative attributes

J Aznar, J Ferrís-Oñate and F Guijarro ()
Additional contact information
J Aznar: Universidad Politécnica de Valencia
J Ferrís-Oñate: Universidad Politécnica de Valencia
F Guijarro: Universidad Politécnica de Valencia

Journal of the Operational Research Society, 2010, vol. 61, issue 5, 740-755

Abstract: Abstract This paper presents a new comparative methodology for the valuation of urban properties based on the Analytic Network Process (ANP), with the twin objective of overcoming the drawbacks found in classical urban valuation methods and enhancing the current set of tools available for the appraiser. The ANP enables to tackle contexts in which scant information is available, qualitative variables are considered and, unlike the Analytic Hierarchy Process, interdependences among variables are present, all very common situations in professional valuation practice, so this study proposes its application to the field of urban valuation. To illustrate the new proposal, a real case study is put forward alongside four different models for solving it, with the aim of analysing the varying accuracy of each model. It may be concluded that the more information taken into account in relation to the interdependences between criteria and alternatives, the greater the accuracy of the results.

Keywords: multicriteria valuation; urban appraisal; AHP; ANP; goal programming (search for similar items in EconPapers)
Date: 2010
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://link.springer.com/10.1057/jors.2009.31 Abstract (text/html)
Access to full text is restricted to subscribers.

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:pal:jorsoc:v:61:y:2010:i:5:d:10.1057_jors.2009.31

Ordering information: This journal article can be ordered from
http://www.springer. ... search/journal/41274

DOI: 10.1057/jors.2009.31

Access Statistics for this article

Journal of the Operational Research Society is currently edited by Tom Archibald and Jonathan Crook

More articles in Journal of the Operational Research Society from Palgrave Macmillan, The OR Society
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().