Economics at your fingertips  

Regression-fuzzy approach to land valuation

Marija Bogataj (), Danijela Tuljak Suban () and Samo Drobne ()

Central European Journal of Operations Research, 2011, vol. 19, issue 3, 253-265

Abstract: In this paper, we demonstrate that the fuzzy pricing model can improve regression analysis in applications where non-smoothness appears. Combining the fuzzy and regression approaches it is capable of modelling complex non-linearities. The application of this approach describes an effort to design a regression-fuzzy system to estimate real estate market values, especially for vacant urban plots. The results are compared with those obtained using a traditional multiple regression model only. The changes of parameters in the domain of independent variables of the regression function are determined by the analysis of membership functions defining the terms of the fuzzy model. The paper also describes possible future research. The suggested method is interesting for real estate appraisers, real estate companies, and bureaus because it provides a better overview of location prices. The suggested approach could be also used in various other economic and business analyses. Copyright Springer-Verlag 2011

Keywords: Fuzzy logics; Regression analysis; Land valuation; Land market (search for similar items in EconPapers)
Date: 2011
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3) Track citations by RSS feed

Downloads: (external link) (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:

Ordering information: This journal article can be ordered from
http://www.springer. ... search/journal/10100

DOI: 10.1007/s10100-010-0188-x

Access Statistics for this article

Central European Journal of Operations Research is currently edited by Ulrike Leopold-Wildburger

More articles in Central European Journal of Operations Research from Springer, Slovak Society for Operations Research, Hungarian Operational Research Society, Czech Society for Operations Research, Österr. Gesellschaft für Operations Research (ÖGOR), Slovenian Society Informatika - Section for Operational Research, Croatian Operational Research Society
Bibliographic data for series maintained by Sonal Shukla ().

Page updated 2020-06-05
Handle: RePEc:spr:cejnor:v:19:y:2011:i:3:p:253-265