A case-based reasoning approach to the selection of comparable evidence for retail rent determination

摘要

Case-based reasoning is an artificial intelligence technique which utilizes past experience to solve current problems and in this respect it mirrors the process involved in real estate appraisal. This paper investigates its application as a computer-assisted valuation tool to the specific domain of retail rent determination. As property appraisal is goal orientated, it is essential that the most appropriate examples of previous rent determinations are selected. 1n exploring a case-based reasoning approach to the retail real estate domain five models are built namely; pure inductive, inductive (Q-model), inductive (prototype), inductive (Q-model and prototype) and nearest neighbour.