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A case-based reasoning approach to the selection of comparable evidence for retail rent determination |
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| Authors: | Brenna O'Roarty David Patterson Stanley McGreal Alastair Adair |
| Affiliation: | Centre for Property Research, Department of Land Economy, University of Aberdeen, St Mary's, King's College, Old Aberdeen AB24 3UF, Scotland Northern Ireland Knowledge Engineering Laboratory, University of Ulster, Shore Road, Newtownabbey BT37 OQB, Northern Ireland Centre for Research on Property, Planning and Logistics, University of Ulster, Shore Road, Newtownabbey BT37 OQB, Northern Ireland |
| Abstract: | Case-based reasoning is an artificial intelligence technique which utilizes past experience to solve current problems and in this respect it mirrors the process involved in real estate appraisal. This paper investigates its application as a computer-assisted valuation tool to the specific domain of retail rent determination. As property appraisal is goal orientated, it is essential that the most appropriate examples of previous rent determinations are selected. 1n exploring a case-based reasoning approach to the retail real estate domain five models are built namely; pure inductive, inductive (Q-model), inductive (prototype), inductive (Q-model and prototype) and nearest neighbour. |
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