According to French 2001, Decision models can be used in the descriptive, normative, or prescriptive analysis. While there is a lot of research performed on normative models (neoclassical) and descriptive (behavioral economics mostly). when researching the various database I can see that prescriptive literature is really thin. I am therefore asking the community if there is any peer-reviewed prescriptive model article for real estate investment to recommend?
Followed.
The decision-based model is a very good basis for interpretable AI models for real estate appraisal and investment analysis. Because it can introduce expert decisions into the model process and adjust the model structure with expert opinions.
You may look at: The future of the valuation profession: diagnostic tools and prescriptive practices for real estate markets by TA Motta, WE Endsley - The Appraisal Journal, 2003 ; Lessons from the past and future directions for corporate real estate research by M Chris, R Stephen - Journal of Real Estate Research, 2001; and Decision theory and its relevance to real estate development decisions by DI Dabara, A Anthony, A Odewande… - British Journal of …, 2014 -
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