Aestimum <div> <p class="Body"><strong><em>Aestimum</em></strong>&nbsp;is a peer-reviewed Journal dedicated to the methodological study of appraisal and land economics. Established in 1976 by the Italian Association of Appraisers and Land Economists, which was legally recognized by Ministerial Decree, March 1993. Topics of interests include rural, urban and environmental appraisal, evaluation of public investments and land use planning. All the areas under discussion are addressed to the International scene. The interdisciplinary approach is one of the mainstays of this editorial project and all of the above mentioned topics are developed taking into consideration the economic, legal and urban planning aspects.&nbsp;<em>Aestimum</em>&nbsp;is biannual Journal and publishes articles both in Italian and English. Articles submitted are subjected to a double blind peer review process.</p> </div> Firenze University Press en-US Aestimum 1592-6117 <p>Authors retain the copyright and grant the journal right of first publication with the work simultaneously licensed under a <strong>Creative Commons Attribution 4.0 International Public License (<a href="">CC-BY-4.0</a>)</strong>&nbsp;that allows others to share the work with an acknowledgment of the work's authorship and initial publication.</p> <p><a href="" rel="license"><img src="" alt="Creative Commons License"></a><br>This work is licensed under a <a href="" rel="license">Creative Commons Attribution 4.0 International License</a></p> Is the information sufficient to create a new market for digestate? <p class="p1"><span class="s1">Unfamiliarity with a good reduce the chances to be used by consumers. This is the case of digestate which is an organic soil conditioner obtained as by-product of biogas chain. The use of digestate as alternative to traditional manure is still not very widespread due to the lack of knowledge among farmers. In our survey, we explored whether providing farmers with information about the digestate can affect farmers’ willingness to pay for buying it instead of the traditional manure used by farmers as soil conditioner. By conducting a hypothetical multiple-price list experiment we show that information positively affects farmers’ willingness to pay (WTP) for digestate but information alone is not sufficient to create a new market for it because at the same price farmers always continue to buy manure. This finding raises some questions when estimating the effect of information, which while positive does not shift farmers’ decisions to use an unfamiliar good. This result suggests that information provided to farmers elicited a WTP not sufficient to replace traditional manure with digestate.</span></p> Roberta Selvaggi Biagio Pecorino Giuseppe Trovato Gioacchino Pappalardo Copyright (c) 2022 Roberta Selvaggi, Biagio Pecorino, Giuseppe Trovato, Gioacchino Pappalardo 2022-07-28 2022-07-28 80 3 14 10.36253/aestim-13002 The assessment of the forced sale value in the Italian residential market <p class="p1">The present research has focused on the development and experimentation of a model for the forced sale value determination. With reference to six study samples consisting of residential properties sold through judicial auctions between November 2020 and May 2021 and each of them located in an Italian region, the forced sale price, the market value assessed by a judicial valuer and the main influencing factors have been detected. The implementation of an econometric technique has allowed to obtain models for the forced sale value assessment and for the analysis of the factors that mostly influence the final hammer price and, therefore, the discount between the market value evaluated and the judicial price. In the context of the existing literature, the study represents the first attempt that proposes a quantification of the discount/premium coefficient based on the specific factors of the property, in order to provide a reliable assessment of the forced sale value.</p> Felicia Di Liddo Francesco Tajani Paola Amoruso Rossana Ranieri Debora Anelli Copyright (c) 2022 Felicia Di Liddo, Francesco Tajani, Paola Amoruso, Rossana Ranieri, Debora Anelli 2022-05-19 2022-05-19 80 15 32 10.36253/aestim-12953 Forecasting housing prices in Turkey by machine learning methods <p class="p1">In this study, decision tree regression, artificial neural networks (ANN) and support vector machines (SVM) methods are applied by using monthly data for the period 2013-2020 in the estimation of housing sales in Turkey. In the analysis, the volume of individual mortgage loans offered by banks, the average annual interest rate of mortgage loans from macroeconomic and market variables, the consumer price index (CPI), the BIST 100 index, the benchmark bond interest rate, gold prices and the values of the US dollar and Euro Turkish lira and the housing sales price per square meter in Turkey are used. As a result of the analysis carried out on the model created house sales prices in the Turkish housing market have been successfully estimated and in the light of these estimates, it is determined that banks can guide banks in the creation of various credit packages and appropriate loan targets to support the housing sector.</p> Mehmet Kayakuş Mustafa Terzioğlu Filiz Yetiz Copyright (c) 2022 Mehmet Kayakuş, Mustafa Terzioğlu, Filiz Yetiz 2022-03-27 2022-03-27 80 33 44 10.36253/aestim-12320 Cyclical capitalization: basic models <p class="p1">The relevance of market cycles is known in the financial markets and in the context of real estate valuations it manifests itself in the estimate of the “exit value” of the Discounted Cash Flow Analysis. The hypothesis that the market cycle has a behaviour very similar to what happened in the past introduces some risks and uncertainty in the estimated value. To allow a more extensive use of cyclical capitalization in formulating value judgments, this paper proposes two methodological adaptations to the original model: the first, based on the presence of a regular market trend; the second based on the hypothesis of irregular market cycles and therefore more representative of the dynamics to which a specific real estate segment is exposed. In the perspective of a more extensive availability of information, data and extra-data, other application areas are also identified on which further investigations need to be developed.<span class="Apple-converted-space">&nbsp;</span></p> Maurizio d'Amato Giuseppe Cucuzza Copyright (c) 2022 Maurizio d'Amato, Giuseppe Cucuzza 2022-07-13 2022-07-13 80 45 54 10.36253/aestim-12625 Rassegna giurisprudenziale II semestre 2021 <p>.</p> Nicola Lucifero Copyright (c) 2022 Nicola Lucifero 2022-07-13 2022-07-13 80 55 66 10.36253/aestim-13381