A case-based reasoning approach to real estate property appraisal

摘要

Case-Based Reasoning (CBR) has emerged as an alternative to rule-based reasoning techniques for the design of expert systems. This paper concentrates on the issues involved in the application of the case-based reasoning techniques to a specific domain, property appraisal. Case-based reasoning has been recently favored because it seems to resemble more closely the psychological process humans follow when trying to apply their knowledge to the solution of problems: adapting solutions of similar problems handled in past experiences to address present situations. Property appraisal or valuation is a domain characterized by having a single parameter in its solution—the value of the property being appraised. This makes it different from most of other domains to which case-based reasoning has been applied. Those other domains require the satisfaction of multiple goals, which are related to one another in some type of explanation or plan. Because of the fact that properly appraisal has a single goal, it is particularly important to find the best possible answer for that solution. In addition to this, the achievement of consistency is also essential in this domain in which different experts may reach different answers even having the same data at their disposition. By modelling the market data approach of appraisal, using adaptations of case-based reasoning techniques, such as the similarity links and the critics, and integrating other techniques, (i.e., the use of comfort factors), a case-based reasoner for property appraisal is implemented addressing the issues just mentioned above.