Title :
Financial applications of fuzzy case-based reasoning to residential property valuation
Author :
Bonissone, Piero P. ; Cheetham, William
Author_Institution :
GE R&D Center, Niskayuna, NY, USA
Abstract :
We present PROFIT, an advanced prototype system developed to estimate residential property values for real estate transactions. The system enhances case-based reasoning (CBR) techniques with fuzzy predicates expressing preferences in determining similarities between subject and comparable properties. These similarities guide the selection and aggregation process, leading to the final property value estimate. Fuzzy techniques are also used to generate a confidence value qualifying such estimate. PROFIT has been successfully tested on thousands of real estate transactions
Keywords :
case-based reasoning; fuzzy logic; real estate data processing; PROFIT; financial applications; fuzzy case-based reasoning; fuzzy predicates; real estate transactions; residential property valuation; Appraisal; Cost accounting; Fuzzy reasoning; Fuzzy sets; Fuzzy systems; Humans; Loans and mortgages; Marketing and sales; Packaging; Research and development;
Conference_Titel :
Fuzzy Systems, 1997., Proceedings of the Sixth IEEE International Conference on
Conference_Location :
Barcelona
Print_ISBN :
0-7803-3796-4
DOI :
10.1109/FUZZY.1997.616341
