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

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

Open Access
|Apr 2016

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.

Language: English
Page range: 64 - 75
Published on: Apr 4, 2016
Published by: Real Estate Management and Valuation
In partnership with: Paradigm Publishing Services
Publication frequency: 4 issues per year

© 2016 Małgorzata Renigier-Biłozor, Andrzej Biłozor, Agnieszka Napiórkowska-Baryła, published by Real Estate Management and Valuation
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.