Aestimum 58 (2011)
Original Articles - Appraisal and rural economics

Data mining in real estate appraisal: a model tree and multivariate adaptive regression spline approach

Published 2011-06-23

Abstract

In this paper we adopt two exploratory modelling techniques: Model Trees and Multivariate Adaptive Regression Splines. The objective is the building of two sale price prediction models in order to highlight possible market segments not detectable a priori. We show how these novel procedures can help to understand complex patterns and interactions among predictors in real estate appraisal.

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