Keywords
economic process modeling
real estate valuation
How to Cite
Abstract
The article presents a method for applying a system of multi-layer perceptron-based neural networks, trained to implement a classification task, in the field of property valuation. The presented method, rooted in the ability of such networks to approximate the probability of input vector membership in a defined class, makes it possible to assess a probability density distribution for property prices instead of an output in the form of a single price. The generated neural model was used for research based on a set of data concerning property prices in Boston area. The article includes research results and conclusions supporting viability of the approach.
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© Copyright by Małopolska School of Economics in Tarnów. The articles are available under the Creative Commons Attribution NonCommercial-NoDerivatives 4.0 International License
