Analyzing Massive Data Sets: An Adaptive Fuzzy Neural Approach for Prediction, with a Real Estate Illustration

REFERENCES

• Antipov , E. A. and Pokryshevskaya , E. B. 2012 . “Mass appraisal of residential apartments: An application of Random forest for valuation and a CART-based approach for model diagnostics.” . Expert Systems with Applications , 39 ( 2 ) : 1772 – 1778 .
   Web of Science ®Google Scholar
• Ata , R. and Koçyigit , Y. 2010 . “An adaptive neuro-fuzzy inference system approach for prediction of tip speed ratio in wind turbines.” . Expert Systems with Applications , 37 ( 7 ) : 5454 – 5460 .
   Web of Science ®Google Scholar
• Bagnoli , C. and Smith , H. C. 1998 . “The theory of fuzzy logic and its application to real estate valuation.” . Journal of Real Estate Research , 16 ( 2 ) : 169 – 200 .
   Google Scholar
• Bonissone , P. P. and Cheetham , W. 1997 . “Financial applications of fuzzy case-based reasoning to residential property valuation.” . In Proceedings of the Sixth International Conference on Fuzzy Systems Barcelona , Spain July 19973:37–44.
   Google Scholar
• Boyacioglu , M. A. and Avci , D. 2010 . “An adaptive network-based fuzzy inference system (ANFIS) for the prediction of stock market return: The case of the Istanbul stock exchange.” . Expert Systems with Applications , 37 ( 12 ) : 7908 – 7912 .
   Web of Science ®Google Scholar
• Byrne , P. 1995 . “Fuzzy analysis: A vague way of dealing with uncertainty in real estate analysis? ” . Journal of Property Valuation and Investment , 13 ( 3 ) : 22 – 41 .
   Google Scholar
• Do , A. Q. and Grudnitski , G. 1992 . “A neural network approach to residential property appraisal.” . The Real Estate Appraiser , 58 ( 3 ) : 38 – 45 .
   Google Scholar
• Fik , T. J. , Ling , D. C. and Mulligan , G. F. 2003 . “Modeling spatial variation in housing prices: A variable interaction approach.” . Real Estate Economics , 31 ( 4 ) : 623 – 646 .
   Web of Science ®Google Scholar
• Gonzalez , A. J. and Laureano-Ortiz , R. 1992 . “A case-based reasoning approach to real estate property appraisal.” . Expert Systems with Applications , 4 ( 2 ) : 229 – 246 .
   Web of Science ®Google Scholar
• Gonzalez , M. A. S. and Formoso , C. T. 2006 . “Mass appraisal with genetic fuzzy rule-based systems.” . Property Management , 24 ( 1 ) : 20 – 30 .
   Google Scholar
• Guan , J. and Levitan , A. S. 1997 . “Artificial neural network based assessment of residential real estate property prices: A case study.” . Accounting Forum , 20 ( 3/4 ) : 311 – 326 .
   Google Scholar
• Guan , J. , Zurada , J. and Levitan , A. S. 2008 . “An adaptive neuro-fuzzy inference system based approach to real estate property assessment.” . Journal of Real Estate Research , 30 ( 4 ) : 395 – 420 .
   Web of Science ®Google Scholar
• Jang , J. S. R. 1993 . “ANFIS: Adaptive-network-based fuzzy inference system.” . IEEE Transactions on Systems, Man, and Cybernetics , 23 ( 3 ) : 665 – 685 .
   Web of Science ®Google Scholar
• Kilpatrick , J. 2011 . “Expert systems and mass appraisal.” . Journal of Property Investment & Finance , 29 ( 4/5 ) : 529 – 550 .
   Google Scholar
• Kusan , H. , Aytek , O. and Özdemir , I. 2010 . “The use of fuzzy logic in predicting house selling price.” . Expert Systems with Applications , 37 ( 3 ) : 1808 – 1813 .
   Web of Science ®Google Scholar
• Larsen , J. E. and Peterson , M. O. 1988 . “Correcting for errors in statistical appraisal equations.” . The Real Estate Appraiser and Analyst , 54 ( 3 ) : 45 – 49 .
   Google Scholar
• Limsombunchai , V. , Gan , C. and Lee , M. 2004 . “House price prediction: Hedonic price model vs. artificial neural network.” . American Journal of Applied Sciences , 1 ( 3 ) : 193 – 201 .
   Google Scholar
• Mark , J. and Goldberg , M. 1988 . “Multiple regression analysis and mass assessment: A review of the issues.” . Appraisal Journal , 56 ( 1 ) : 89 – 109 .
   Google Scholar
• Mathworks. 2013. Matlab 2013. Retrieved from(accessed July 23, 2013) http://www.mathworks.com/ (http://www.mathworks.com/)
   Google Scholar
• McCluskey , W. J. and Anand , S. 1999 . “The application of intelligent hybrid techniques for the mass appraisal of residential properties.” . Journal of Property Investment and Finance , 17 ( 3 ) : 218 – 238 .
   Google Scholar
• McCluskey , W. J. , Cornia , G. C. and Walters , L. C. 2012 . Administration and Policy , A Primer on Property Tax . London: John Wiley & Sons
   Google Scholar
• McCluskey , W. J. , Davis , P. , Haran , M. , McCord , M. and McIlhatton , D. 2012 . “The potential of artificial neural networks in mass appraisal: The case revisited.” . Journal of Financial Management of Property and Construction , 17 ( 3 ) : 274 – 292 .
   Google Scholar
• McGreal , S. , Adair , A. , McBurney , D. and Patterson , D. 1998 . “Neural networks: The prediction of residential values.” . Journal of Property Valuation and Investment , 16 : 57 – 70 .
   Google Scholar
• Moore , J. W. 2006 . “Performance comparison of automated valuation models.” . Journal of Property Tax Assessment and Administration , 3 ( 1 ) : 43 – 59 .
   Google Scholar
• Nguyen , N. and Cripps , A. 2002 . “Predicting housing value: A comparison of multiple regression analysis and artificial neural networks.” . Journal of Real Estate Research , 22 ( 3 ) : 313 – 336 .
   Google Scholar
• Peterson , S. and Flanagan , A. B. 2009 . “Neural network hedonic pricing models in mass real estate appraisal.” . Journal of Real Estate Research , 31 ( 2 ) : 147 – 164 .
   Web of Science ®Google Scholar
• Rossini , P. A. 1997 . “Artificial neural networks versus multiple regression in the valuation of residential property.” . Australian Land Economics Review , 3 ( 1 ) : 1 – 12 .
   Google Scholar
• Selim , H. 2009 . “Determinants of house prices in Turkey: Hedonic regression versus artificial neural network.” . Expert Systems with Applications , 36 ( 2 ) : 2843 – 2852 .
   Web of Science ®Google Scholar
• Soibelman , L. and Gonzalez , M. A. S. 2002 . “A knowledge discovery in databases framework for property valuation.” . Journal of Property Tax Assessment and Administration , 7 ( 2 ) : 77 – 104 .
   Google Scholar
• Soltani , F. , Kerachian , R. and Shirangi , E. 2010 . “Developing operating rules for reservoirs considering the water quality issues: Application of ANFIS-based surrogate models.” . Expert Systems with Applications , 37 ( 9 ) : 6639 – 6645 .
   Web of Science ®Google Scholar
• Sweetland , D. and Colclough , W. 1986 . “Ridge regression: A word of caution.” . Appraisal Journal , 55 ( 2 ) : 294 – 300 .
   Google Scholar
• Taffese , W. Z. 2007 . “Case-based reasoning and neural networks for real estate valuation.” . In Proceedings of the 25th IASTED International Multi-Conference: Artificial Intelligence and Applications Innsbruck , Austria February 12–14, 2007
   Google Scholar
• Witten , I. H. and Frank , E. 2005 . Data Mining: Practical Machine Learning Tools and Techniques , San Francisco : Morgan Kaufmann .
   Google Scholar
• Worzala , E. , Lenk , M. and Silva , A. 1995 . “An exploration of neural networks and its application to real estate valuation.” . Journal of Real Estate Research , 10 : 185 – 202 .
   Google Scholar
• Zurada , J. , Levitan , A. S. and Guan , J. 2011 . “A comparison of regression and artificial intelligence methods in a mass appraisal context.” . Journal of Real Estate Research , 33 ( 3 ) : 349 – 387 .
   Web of Science ®Google Scholar