A Location Value Response Surface Model for Mass Appraising: An "Iterative" Location Adjustment Factor in Bari, Italy

• Authors: Maurizio D'Amato

Title variants

LT

Geografinės padėties vertės stebimojo paviršiaus modelis masiniam turto vertinimui: iteracinis geografinės padėties korekcijos veiksnys Baryje (Italija)

Abstracts

EN

The work is focused on a new model of mass appraising including location variable. A location adjustment factor derived from a mathematical iteration was compared to the location adjustment factor based on geostatistical techniques. The work compares three different linear MRA models. The first one uses the location blind linear MRA. The second integrates the linear MRA with a location adjustment factor calculated using spatial interpolation. The second alternative is an application of Location Value Response Surface Models (O'Connor, 1982). It represents the first application of these models for mass appraising in Italy. The third approach introduces the Iterative Location Adjustment Factor. This is a factor which measure the influence of location derived from a mathematical iteration. Empirical results seem to prove the validity of Iterative Location Adjustment Factors in specific context with few observations.

LT

Darbe nagrinėjamas naujas masinio turto vertinimo modelis, apimantis geografinės padėties kintamąjį. Iteraciniu būdu apskaičiuotas geografinės padėties korekcijos veiksnys palygintas su geografinės padėties korekcijos veiksniu, gautu taikant geostatistinius metodus. Darbe lyginami trys skirtingi tiesiniai MRA modeliai. Pirmajame naudojamas geografinės padėties nevertinantis tiesinis MRA. Antrajame tiesinis MRA sujungiamas su geografinės padėties korekcijos veiksniu, apskaičiuotu pasitelkus erdvinę interpoliaciją. Antrojoje alternatyvoje pritaikomi geografinės padėties vertės stebimojo paviršiaus (angl.Location Value Response Surface) modeliai (O'Connor 1982). Italijoje šie modeliai masiniam turto vertinimui naudojami pirmą kartą. Trečiojoje alternatyvoje taikomas iteracinis geografinės padėties korekcijos veiksnys. Jis įvertina geografinės padėties įtaką, nustatytą iteraciniu būdu. Empiriniai rezultatai, regis, įrodo iteracinių geografinės padėties korekcijos veiksnių pagrįstumą konkrečiame kontekste, kai stebėjimų yra mažai.

Keywords

EN

Mass appraisal; Automated valuation models; Location; Location value response surface; Location adjustment factor

• Publisher: Sciendo
• Journal: International Journal of Strategic Property Management
• Year: 2010
• Volume: 14
• Issue: 3
• Pages: 231-244

Contributors

author

Maurizio D'Amato

• Faculty of Engineering, Technical University - Politecnico di Bari, Via Calefati, 272 - 70122 Bari, Italy

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Identifiers

DOI

10.3846/ijspm.2010.17