Expert systems in real estate valuation

Abstract

Discusses the development of expert systems (ES) as an improvement on computer‐aided valuation techniques (CAV), due to its allowing the modelling of complex non‐linear and qualitative relationships and processes, such as those which exist within the field of valuation. Explores valuation as a set of processes and details current technology with reference to the impact of CAVs in Australia. Discusses expert systems as the latest stage in the evolution of computer methods which support humans in decision making, outlines ES procedure and gives examples of current applications. Considers the application of expert systems to rating valuation and reviews the theory of ′information chunking.

Citation

Czernkowski, R.M.J. (1990), "Expert systems in real estate valuation", Journal of Valuation, Vol. 8 No. 4, pp. 376-393. https://doi.org/10.1108/EUM0000000003292