The nature and use of uncertainty in property valuation expert systems

Abstract

Examines the ability of an expert computer system to evaluate uncertainty within a valuation context and thus emulate the professional skill of the valuer. Shows that because property valuation programs based on regression analysis require data input for each variable, they are unable to evaluate uncertainty and hence to apply the rational judgement which enables the human valuer to produce a valuation in the light of uncertain or incomplete information.

Citation

Scott, I., Gronow, S. and Rosser, B. (1989), "The nature and use of uncertainty in property valuation expert systems", Journal of Valuation, Vol. 7 No. 3, pp. 218-247. https://doi.org/10.1108/EUM0000000003265