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Quantifying the impact of uncertainty to the market value by introducing a Bayesian sales comparison approach [electronic resource]

By: Contributor(s): Language: English Series: COBRA ; 2013Publication details: London RICS 2013ISBN:
  • 9781783210305
Subject(s): Online resources: Summary: A paper presented at the COBRA Conference in New Delhi on 10-12 September 2013. The sales comparison approach is used for analysing the real estate market and to determine the current market value. This paper introduces the Bayesian approach as an innovative method which is able to consider the uncertainty of the value affecting characteristics as a prior information and thus to quantify its impact to the market value.

A paper presented at the COBRA Conference in New Delhi on 10-12 September 2013. The sales comparison approach is used for analysing the real estate market and to determine the current market value. This paper introduces the Bayesian approach as an innovative method which is able to consider the uncertainty of the value affecting characteristics as a prior information and thus to quantify its impact to the market value.

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