<abstract xmlns="http://www.w3.org/1999/xhtml"><p>This paper presents a streamlined sub-system of decision-making in a real estate market with incomplete data. As we currently observe, various entities collect data and use databases, which entails a problem with their quality and completeness. This results from the specifics of the real estate market, particularly from the nature of the available information, access to it and integral uncertainty.</p><p>In the first part of this paper, we will present substantive guidelines for the development of a procedure for supplementing missing information. Afterwards, in order to verify the feasibility and effectiveness of the procedure, an implementation simulation will be conducted on the selected example. We would like to emphasize that all decisions are made under the conditions of an information gap.</p></abstract>

This paper presents a streamlined sub-system of decision-making in a real estate market with incomplete data. As we currently observe, various entities collect data and use databases, which entails a problem with their quality and completeness. This results from the specifics of the real estate market, particularly from the nature of the available information, access to it and integral uncertainty.In the first part of this paper, we will present substantive guidelines for the development of a procedure for supplementing missing information. Afterwards, in order to verify the feasibility and effectiveness of the procedure, an implementation simulation will be conducted on the selected example. We would like to emphasize that all decisions are made under the conditions of an information gap.

Streamlining of the Process of Decision-Making in Real Estate Management with Incomplete Information

Faculty of Geodesy, Geospatial and Civil Engineering, University of Warmia and Mazury in Olsztyn

Faculty of Econonomics, University of Warmia and Mazury in Olsztyn

Real Estate Management and Valuation

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

This paper presents a streamlined sub-system of decision-making in a real estate market with incomplete data. As we currently observe, various entities collect...

Streamlining of the Process of Decision-Making in Real Estate Management with Incomplete Information

Published Online: Apr 04, 2016

Page range: 64 - 75

DOI: https://doi.org/10.1515/remav-2016-0006

Keywords
decision-making, real estate market, rough set theory

© 2016 Małgorzata Renigier-Biłozor et al., published by De Gruyter Open

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Streamlining of the Process of Decision-Making in Real Estate Management with Incomplete Information

Published Online: Apr 04, 2016

Page range: 64 - 75

DOI: https://doi.org/10.1515/remav-2016-0006

Keywordsdecision-making, real estate market, rough set theory

© 2016 Małgorzata Renigier-Biłozor et al., published by De Gruyter Open

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Keywords
decision-making, real estate market, rough set theory