Ranking residential properties by a multicriteria single price model

For the author's employer, if the article is a 'work for hire', made within the scope of the author's employment, the right to use all or part of the Contribution for other intra-company use (e.g. training).This study describes an application of the multicriteria single price model (Ballestero) to the ranking of alternatives. By a generalization of the original model, the equilibrium set of alternatives can be characterized from the viewpoints, respectively, of the demander and the supplier, and from that the efficiency index can be calculated. We demonstrate how, in a state of equilibrium, the two viewpoints result inevitably in inverse orders of ranking. In contrast with other proposals for full ranking of alternatives, the method used in the present study (i) assumes a moderate attitude on the part of the decision maker towards risk, with a robust axiomatic basis; (ii) assigns weights to the criteria independently of which alternative is being evaluated and the attitude (optimistic or pessimistic) of the decision maker; (iii) produces a cardinal hierarchy of the alternatives and not just an ordinal one. The model is illustrated by a sample of residential properties in the city of Valencia, Spain. © 2011 Operational Research Society Ltd. All rights reserved.Cervelló Royo, RE.; García García, F.; Guijarro Martínez, F. (2011). Ranking residential properties by a multicriteria single price model. Journal of the Operational Research Society. 62(11):1941-1950. doi:10.1057/jors.2010.170194119506211Aznar, J., Ferrís-Oñate, J., & Guijarro, F. (2010). An ANP framework for property pricing combining quantitative and qualitative attributes. Journal of the Operational Research Society, 61(5), 740-755. doi:10.1057/jors.2009.31Ballestero, E. (1999). Measuring efficiency by a single price system. European Journal of Operational Research, 115(3), 616-623. doi:10.1016/s0377-2217(98)00110-6Ballestero, E. (2002). Strict Uncertainty: A Criterion for Moderately Pessimistic Decision Makers. Decision Sciences, 33(1), 87-108. doi:10.1111/j.1540-5915.2002.tb01637.xBALLESTERO, E. (2004). SELECTING TEXTILE PRODUCTS BY MANUFACTURING COMPANIES UNDER UNCERTAINTY. Asia-Pacific Journal of Operational Research, 21(02), 141-161. doi:10.1142/s0217595904000102Ballestero, E., & Maldonado, J. A. (2004). Objective measurement of efficiency: applying single price model to rank hospital activities. Computers & Operations Research, 31(4), 515-532. doi:10.1016/s0305-0548(02)00231-9Ballestero, E., & Romero, C. (1991). A theorem connecting utility function optimization and compromise programming. Operations Research Letters, 10(7), 421-427. doi:10.1016/0167-6377(91)90045-qBallestero, E., & Romero, C. (1993). Weighting in compromise programming: A theorem on shadow prices. Operations Research Letters, 13(5), 325-329. doi:10.1016/0167-6377(93)90055-lBallestero, E., & Romero, C. (1994). Multiple Criteria Decision Making: Some Connections with Economic Analysis. Decision Theory and Decision Analysis: Trends and Challenges, 223-232. doi:10.1007/978-94-011-1372-4_16Rosen, S. (1974). Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition. Journal of Political Economy, 82(1), 34-55. doi:10.1086/260169Talluri, S. (2002). Single price system model for optimal decisions in capital equipment purchasing. International Journal of Production Research, 40(4), 1003-1016. doi:10.1080/00207540110094764Yu, P. L. (1973). A Class of Solutions for Group Decision Problems. Management Science, 19(8), 936-946. doi:10.1287/mnsc.19.8.936Zelany, M. (1974). A concept of compromise solutions and the method of the displaced ideal. Computers & Operations Research, 1(3-4), 479-496. doi:10.1016/0305-0548(74)90064-

Selección de un viñedo en el Levante español para la elaboración de un vino de alta gama mediante el modelo de análisis en Red ANP

El objeto del estudio es la selección de un viñedo, entre cinco alternativas posibles para la vinificación y comercialización de producto de muy alta gama. Se trata de un problema complejo que debe optimizar la satisfacción simultánea de tres objetivos: la producción de un vino de muy alta calidad, la rentabilidad y viabilidad económica de la empresa, y el establecimiento de un lugar de residencia adecuado para el viticultor-propietario.Escardino Malva, A. (2011). Selección de un viñedo en el Levante español para la elaboración de un vino de alta gama mediante el modelo de análisis en Red ANP. http://hdl.handle.net/10251/15722Archivo delegad

An Analytic Hierarchy Process (AHP) framework for property valuation to identify the ideal 2050 portfolio mixes in EU-27 countries with shrinking populations

The final publication is available at Springer via http://dx.doi.org/10.1007/s11135-015-0264-3[EN] This paper presents a new methodology to evaluate the development trends of the residential trade and industry up until 2050. In the first step available data are analysed for the period 1970–2050. In the second step an expert assessment based on the Analytic Hierarchy Process (AHP) methodology is integrated to reflect the estimation of various expert forecasts of the future. The AHP methodology is based on different variables in the fields of demographic, social-environmental as well as build-quality characteristics to imply a widespread perception of the portfolio mix of habitations in 2050. There will mainly be a focus on several EU-27 countries with potential future-shrinking populations like Bulgaria, Estonia, Germany, Hungary, Latvia, Lithuania, Poland, Romania and Slovakia. Furthermore, they will be compared with Spain whose population is expected to increase.Cervelló Royo, RE.; Guijarro, F.; Pfahler, T.; Preuss, M. (2016). An Analytic Hierarchy Process (AHP) framework for property valuation to identify the ideal 2050 portfolio mixes in EU-27 countries with shrinking populations. Quality and Quantity. 50(5):2313-2329. doi:10.1007/s11135-015-0264-3S23132329505Aczél, J., Saaty, T.: Procedures for synthesizing ratio judgements. J. Math. Psychol. 27, 93–102 (1983)Afshari, M., Mafi, E.: Land capability assessment for regional planning using AHP and GIS at Shandiz Urban Region, Northeast Iran. Environ. Urban. ASIA 5(1), 105–118 (2014)Aguarón, J., Escobar, M.T., Moreno-Jiménez, J.M.: The precise consistency consensus matrix in a local AHP-group decision making context. Annal. Operat. Res. 4, 1–15 (2014)Aznar, J., Caballer, V.: An application of the analytic hierarchy process method in farmland appraisal. Span. J. Agric. 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Financ. 26(2), 162–176 (2008)Hoesli, M., Lekander, J., Witkiewicz, W.: International Evidence on Real Estate as a Portfolio Diversifier. J. R. Estat. Res. 26(2), 161–206 (2004)HSBC Global Research (eds): The World in 2050. Publications Office of HSBC Global Research, London (2012)Khumpaisal, S., Chen, Z.: Risks Assessment in Real Estate Development: An Application of Analytic Network Process. Printed version of the School of Built Environment. Liverpool John Moores University, 1–26 (2007)Lachman, L.: Global Demographics and their Real Estate Investment Implications. Publications Office of the Urban Land Institute, Washington (2006)Lynn, D.: Active Private Equity Real Estate Strategy. John Wiley & Sons Inc, New Jersey (2009)Maurer, R., Reiner, F., Rogalla, R.: Return and risk of German open-end real estate funds. J. Prop. Res. 21(3), 209–233 (2004)Ministry of the Interior and Kingdom Relations (eds): Housing Statistics in the European Union. 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Análisis del desempeño en Responsabilidad Social Corporativa (RSC) de las empresas, aplicación al sector inmobiliario de Alemania

[ES] Es responsabilidad de todos los actores sociales contribuir al desarrollo sostenible, también de las organizaciones, ya sean públicas o privadas, con ánimo de lucro o no. Se denomina Responsabilidad Social de las Empresas o Corporativa (RSE o RSC) a las actividades que las organizaciones hacen relacionadas con su responsabilidad hacia el desarrollo sostenible. Aquellas que realizan prácticas de RSC obtienen rendimiento competitivo demostrable en el valor global de la empresa. La relación existente entre el rendimiento financiero y la RSC, en el ámbito de las grandes empresas lleva ya varias décadas y aún se sigue investigando, buscando las posibles correlaciones entre el desempeño sostenible y el resultado empresarial, entendiendo el resultado de la valoración de la empresa en una perspectiva mucho más amplia que la estrictamente financiera, existe literatura que considera evidencias empíricas pero hasta la actualidad no hay nada concluyente. Este TFG propone como evaluar el desempeño en RSC de las empresas, y analiza el caso particular de las empresas inmobiliarias alemanas. Los resultados de este TFG pueden servir, entre otras aplicaciones, para completar el análisis financiero de las empresas, completando el conjunto de variables que permiten explicar el valor bursátil de una empresa. Para el análisis se ha necesitado, seleccionar empresas comparables con desempeño en RSC publicado, seleccionar la fuente de información de índices de RSC de las empresas disponibles a utilizar y con qué método realizar el análisis, para obtener los resultados deseados. Existen varios índices del desempeño en RSC de las empresas, pero su información no siempre es pública y sus indicadores están discutidos. Por tanto, se decide usar el Reporte Global (IRG) o Global Reporting Initiative (GRI) en adelante GRI, que permite acceso a una base de datos gratuita y que además es la más amplia. El proceso para conseguir reducir la amplia información existente a términos medibles, dado que se parte de variables cualitativas y cuantitativas, implica una extensa toma de decisiones. Se han ido modificando los resultados en fases de global o universal y de esta a particular o simplificada, en modo que permita ser valorada. El método Proceso Analítico Jerárquico (PAJ) o Analytical Hierarchy Process (AHP) en adelante AHP, demuestra su utilidad para, por un lado simplificar el proceso de evaluación de las empresas, y por otro lado, agregar la información que se genera permitiendo clasificar según su importancia los criterios de evaluación y las empresas evaluadas. Se ha decidido adoptar como caso de estudio el sector inmobiliario alemán, concretamente empresas del Real State o inmobiliarias alemanas. ¿Por qué de Alemania? Por los motivos relacionados al final de este capítulo y que además la autora ha realizado un Erasmus+ en la universidad de ciencias aplicadas HAW de Hamburgo Alemania, situación que ha facilitado el acceso a parte de la información del TFG.Molina Figueres, MC. (2016). ANÁLISIS DEL DESEMPEÑO EN RESPONSABILIDAD SOCIAL CORPORATIVA (RSC) DE LAS EMPRESAS,APLICACIÓN AL SECTOR INMOBILIARIO DE ALEMANIA. http://hdl.handle.net/10251/72257.TFG

Enlargement for residential trade and industry portfolio valuation and optimisation within the framework of the demographic development in the European Union

[EN] This research presents a new methodology to evaluate the development trends of the residential trade and industry up until 2050. In the first step available data are analysed for the period 1970 - 2050. In the second step an expert assessment based on the Analytic Hierarchy Process (AHP) methodology is integrated to reflect the estimation of various expert forecasts of the future. The AHP methodology is based on different variables in the fields of demographic, social-environmental as well as build-quality characteristics to imply a widespread perception of the portfolio mix of habitations in 2050. There will mainly be a focus on several European Union countries with potential future-shrinking populations like Bulgaria, Estonia, Germany, Hungary, Latvia, Lithuania, Poland, Romania and Slovakia. Furthermore, they will be compared with Spain whose population is expected to increase.[ES] Esta investigación presenta una nueva metodología para evaluar las tendencias de desarrollo del comercio y la industria de viviendas hasta el año 2050. En la primera etapa, los datos disponibles son analizados para el período 1970 hasta 2050 con el fin de establecer las tendencias generales de los mercados de bienes raíces en la Unión Europea. En el segundo paso se integra una evaluación de expertos sobre la base de la metodología analítica Hierarchy Process (AHP) para reflejar la estimación de las distintas previsiones de los expertos. La metodología AHP se basa en diferentes variables en los campos de la demografía, las características de calidad de construcción ambientales, así como sociales. El objetivo es inferir la percepción generalizada de la mezcla de la cartera de viviendas en 2050. El enfoque se ha desarrollado sobre varios países de la Unión Europea con un previsible descenso demográfico futuro: Bulgaria, Estonia, Alemania, Hungría, Letonia, Lituania, Polonia, Rumania y Eslovaquia. Además, se comparan con España cuya población se espera que aumente en el futuro.[CA] Aquesta recerca presenta una nova metodologia per avaluar les tendències de desenvolupament del comerç i la indústria d'habitatges fins a l'any 2050. En la primera etapa, les dades disponibles són analitzades per al període 1970 fins a 2050 amb la finalitat d'establir les tendències generals del mercat de béns inmobles en la Unió Europea. En el segon pas s'integra una avaluació d'experts sobre la base de la metodologia Analytic Hierarchy Process (AHP) per reflectir l'estimació de les diferents previsions dels experts. La metodologia AHP es basa en diferents variables en els camps de la demografia, les característiques de qualitat de construcció ambientals, així com socials. L'objectiu és inferir la percepció generalitzada del mix de la cartera d'habitatges en 2050. L'enfocament s'ha desenvolupat sobre diversos països de la Unió Europea amb un previsible descens demogràfic futur: Bulgària, Estònia, Alemanya, Hongria, Letònia, Lituània, Polònia, Romania i Eslovàquia. A més, es comparen amb Espanya la població del qual s'espera que augmenti en el futur.Preuss, M. (2016). Enlargement for residential trade and industry portfolio valuation and optimisation within the framework of the demographic development in the European Union [Tesis doctoral no publicada]. Universitat Politècnica de València. https://doi.org/10.4995/Thesis/10251/64068TESI