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Journal of Emerging Trends in Computing and Information Sciences >> Call for Papers Vol. 8 No. 3, March 2017

Journal of Emerging Trends in Computing and Information Sciences

A Neural-CBR System for Real Property Valuation

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Author Adebola G. Musa, Olawande Daramola, Alfred Owoloko, Oludayo Olugbara
ISSN 2079-8407
On Pages 611-622
Volume No. 4
Issue No. 8
Issue Date August 30, 2013
Publishing Date August 30, 2013
Keywords Case-based reasoning, artificial neural networks, real property valuation, intelligent system


Abstract

In recent times, the application of artificial intelligence (AI) techniques for real property valuation has been on the increase. Some expert systems that leveraged on machine intelligence concepts include rule-based reasoning, case-based reasoning and artificial neural networks. These approaches have proved reliable thus far and in certain cases outperformed the use of statistical predictive models such as hedonic regression, logistic regression, and discriminant analysis. However, individual artificial intelligence approaches have their inherent limitations. These limitations hamper the quality of decision support they proffer when used alone for real property valuation. In this paper, we present a Neural-CBR system for real property valuation, which is based on a hybrid architecture that combines Artificial Neural Networks and Case-Based Reasoning techniques. An evaluation of the system was conducted and the experimental results revealed that the system has higher satisfactory level of performance when compared with individual Artificial Neural Network and Case-Based Reasoning systems.
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