Real Estate Appraisal: A Double Perspective Data Envelopment Analysis Approach

  title={Real Estate Appraisal: A Double Perspective Data Envelopment Analysis Approach},
  author={Marcos Pereira Estellita Lins and Luiz Fernando de Lyra Novaes and Luiz Fernando Loureiro Legey},
  journal={Annals of Operations Research},
This paper proposes a new methodology for the assessment of the value range for real estate units. The theoretical basis of the methodology is built on the Data Envelopment Analysis—DEA approach, which has its original concept adapted to the case where the units under assessment consist of transactions among sellers and buyers. The proposed approach—christened Double Perspective-Data Envelopment Analysis (DP-DEA)—is applied to a database comprising the prices and features of the units under… 
Double Perspective Data Envelopment Analysis: One Approach to Estimate the “LOOP” Arbitrage
This paper introduces the application of real estate pricing DP DEA - Double Perspective Data - Envelopment Analysis to solve the LOOP (Law of One Price) arbitrage. A general equilibrium model of
Defining the utility and market value of a real estate: A multiple criteria approach
This paper considers the application of methodology for the defining the utility and market value of a real estate. The theoretical basis of the methodology is developed. The proposed methods, the
A Mean-Variance Optimization Approach for Residential Real Estate Valuation
  • F. Guijarro
  • Economics
    Real Estate Management and Valuation
  • 2021
Abstract This paper introduces a new approach to the sales comparison model for the valuation of real estate that can objectively estimate the coefficients associated with the explanatory price
An integrated cost-based approach for real estate appraisals
Motivated by the identified limitations of existing cost approaches for real estate appraisals, some elements from sales comparison approach and income approach are integrated into the cost approach to improve the accuracy of the valuation of real estate appropriately.
The research on real estate market comparison decision-making support system valuation model library
This text sets up real estate valuation model library in the real estate market comparison approach decision-making support system with a city of urban basic geographic data as the test basic data, and application practice shows that the valuation model has a higher credibility.
The Final Frontier: A SAS ® Approach to Data Envelopment Analysis
The purpose of this paper is to discuss the methodology for using PROC OPTMODEL and macros to rank real estate properties using Data Envelopment Analysis (DEA) and Super Efficiency Models. DEA was
Property valuation: the market approach optimised by a weighted appraisal model
The proposed model borrows the operative logics of the goal programming techniques in order to identify the solution, the market value of the subject property and the implicit prices of the different influencing factors, since they are more reliable from the mathematical and empirical points of view.
Double Perspective DEA on appraising property ’ s fair market value by Brazilian Standards
Objective: This article innovates when we incorporate the statistical analysis to the method of DoublePerspective Data Envelopment Analysis (DP-DEA), with the objective of obtaining an estimate of
Contextualized Property Market Models vs. Generalized Mass Appraisals: An Innovative Approach
The present research takes into account the current and widespread need for rational valuation methodologies, able to correctly interpret the available market data. An innovative automated valuation
Mass Appraisal Models of Real Estate in the 21st Century: A Systematic Literature Review
The review focuses on the application trend and classification of mass appraisal and highlights a 3I-trend, namely AI-Based model, GIS-Based Models and MIX-Based models, to better model the real estate value of non-spatial and spatial data.


Some Models for Estimating Technical and Scale Inefficiencies in Data Envelopment Analysis
In management contexts, mathematical programming is usually used to evaluate a collection of possible alternative courses of action en route to selecting one which is best. In this capacity,
DEA - Data Envelopment Analysis
  • M. Luptácik
  • Economics, Education
    Informationswirtschaft: Ein Sektor mit Zukunft
  • 2003
The researcher dealt with how to measure the relative efficiency of educational institutions operating in Egypt by using DEA: Data Envelopment Analysis, including universities and private higher
The Coefficient of Resource Utilization
Abstract : A numerical evaluation of the 'dead loss' associated with a nonoptimal situation (in the Pareto sense) of an economic system is sought. Use is made of the intrinsic price systems
Measuring the Technical Efficiency of Multiple Output Production Technologies
In this paper we consider a production unit employing many inputs to produce many outputs, subject to the constraints imposed by given technology. Our purpose is to present and analyze various
Cost and production functions
1. The Process Production Function.- 2. Heuristic Principle of Minimum Costs.- 3. The Producer's Minimum Cost Function.- 4. Dual Determination of Production Function From Cost Function.- 5. Geometric
Validation and generalization of DEA and its uses
SummaryRapidly expanding uses of DEA have been accompanied by developments which have enhanced its power and enlarged its utility for additional applications. Developments covered in the present
The measurement of efficiency of production
The Structure of Production Technology.- Radial Input Efficiency Measures.- Radial Output Efficiency Measures.- Hyperbolic Graph Efficiency Measures.- A Comparison of Input, Output, and Graph
Theory of cost and production functions