MODEL TREE: AN APPLICATION IN REAL ESTATE APPRAISAL

In the last twenty years in real estate appraisal there has been a growing interest for new and reliable assessment techniques essentially through the introduction of pluriparametric estimate, in particular of linear regression. However, also these techniques seem having not a great deal of adherence to very complex markets, for which the detection of best suited techniques to investigate market segments is necessary. The aim of the research is to test the applicative possibilities of model tree to land market, in order to highlight possible market segments in the original data set not detectable a priori.data mining, model tree, multiple regression analysis, land market appraisal, Research Methods/ Statistical Methods, C01,

A two-step hybrid approach for modeling the nonlinear dynamic response of piezoelectric energy harvesters

An effective hybrid computational framework is described here in order to assess the nonlinear dynamic response of piezoelectric energy harvesting devices. The proposed strategy basically consists of two steps. First, fully coupled multiphysics finite element (FE) analyses are performed to evaluate the nonlinear static response of the device. An enhanced reduced-order model is then derived, where the global dynamic response is formulated in the state-space using lumped coefficients enriched with the information derived from the FE simulations. The electromechanical response of piezoelectric beams under forced vibrations is studied by means of the proposed approach, which is also validated by comparing numerical predictions with some experimental results. Such numerical and experimental investigations have been carried out with the main aim of studying the influence of material and geometrical parameters on the global nonlinear response. The advantage of the presented approach is that the overall computational and experimental efforts are significantly reduced while preserving a satisfactory accuracy in the assessment of the global behavior

Model tree: An application in Real Estate Appraisal

In the last twenty years in real estate appraisal there has been a growing interest for new and reliable assessment techniques essentially through the introduction of pluriparametric estimate, in particular of linear regression. However, also these techniques seem having not a great deal of adherence to very complex markets, for which the detection of best suited techniques to investigate market segments is necessary. The aim of the research is to test the applicative possibilities of model tree to land market, in order to highlight possible market segments in the original data set not detectable a priori

Data mining in real estate appraisal: a model tree and multivariate adaptive regression spline approach

In this paper we adopt two exploratory modelling techniques: Model Trees and Multivariate Adaptive Regression Splines. The objective is the building of two sale price prediction models in order to highlight possible market segments not detectable a priori. We show how these novel procedures can help to understand complex patterns and interactions among predictors in real estate appraisal

Influence of Wind Turbines on Farmlands’ Value: Exploring the Behaviour of a Rural Community through the Decision Tree

The relationship between wind energy and rural areas leads to the controversial debate on the effects declared by rural communities after wind farms or single turbines are operative. The literature on this topic lacks dedicated studies analysing how the behaviour of rural communities towards wind turbines can affect the market value of farmlands. This research aims to examine to the extent to which the easement of wind turbines can influence the market value of farmlands in terms of willingness to pay (WTP) by a small rural community, and to identify the main factors affecting the WTP. Starting from data collected via face-to-face interviews, a decision tree is then applied to investigate the WTP for seven types of farmland in a rural town of Puglia Region (Southern Italy) hosting a wind farm. Results of the interviews show a broad acceptance of the wind farm, while the decision tree classification shows a significant reduction of WTP for all farmlands. The main factors influencing the WTP are the education level, the possibility to increase the income, the concerns for impacts on human health and for maintenance workmen. National and local policy measures have to be put in place to inform rural communities about the ‘magnitude’ of the effects they identified as crucial, so that policy-makers and private bodies will contribute to make the farmland market more equitable

Agritourism and territorial framework in the northern Salento (Apulia region, Italy)

The Territory Landscape Plan of the Apulia Region (PPTR)focuses on rural areas and agricultural sector, putting them in a holistic local and socio-economic context. This strategy isimplemented through the town-country pact, one of the five local projects proposed by the PPTR. The aim of the research is the study of the context and specificity of agritourism in Ostuni and Fasanocoastal areas (northern Salento), in which natural beauties, such as rural and coastal landscapes, coexist, characterized by ancient olive groves, historical rural houses and charming towns. In particular, the study analyses this rural context by means of the relationship between agritourism and territorial framework in order to check the sustainability of the development processes and their consistency with the programmatic guidelines of the PPTR. Qualitative approacheshas been used, such as semi-structured interviews and photographic material

Agro-biodiversity of Mediterranean crops: farmers' preferences in support of a conservation programme for olive landraces

The study focused on the willingness to participate in a conservation programme for olive landraces by farmers in Apulia, Italy. The choice experiment approach through a latent class model was carried out in order to investigate different characteristics of farmers which could increase the effectiveness and efficiency of conservation strategies by policy makers. The analysis identified three groups of respondents, each of which with very different characteristics: capitalist farms with high profit level managed by farmers unwilling to take part in a conservation programme; small and fragmented family farms managed by older farmers fully in favour of the programme; young farmers with low capital input, but willing to engage with a minimum participation in the programme. Policy implications suggest the need to develop markets able to appreciate the characteristics of the local olive oils, to involve farmers in marketing training programmes for a better placing of local products in the market, to support the young farmers and family farming, to set suitable policies which are able to trigger a more incisive involvement of women in conservation programmes. Such a holistic approach could generate welfare for all agents of the supply chain, in terms of profit, environment, food security and nutritional aspects

Agro-biodiversity: an economic evaluation of benefits provided to regional community by the Apulian olive landraces

The most important anthropogenic cause of the loss of agricultural biodiversity is the rapid change in land use and the subsequent transformation of habitats, a process stemming from the economic decisions of sector agents, with significant implications for biodiversity conservation strategies in agro-ecosystems. The paper focuses on the olive sector of Apulia, Italy, one of the most important in the regional agriculture in terms of added value. In particular, it concerns the conservation of the local olive landraces based on the socioeconomic characteristics of regional citizens. Recognition of the social, economic and structural heterogeneity in community is important for estimating accurately predicting benefits and costs of agro-biodiversity management in the Mediterranean area. The paper allows studying these aspects by measuring, through a random parameter logit model, the monetary willingness of citizens of Apulia to participate in an on-farm agro-biodiversity conservation programme and by exploring how some programme attributes influence their willingness. This information can then be gathered in order to verify the suitability of the conservation strategy in force and to provide tailored references for future programmes

The Ornamental value of trees and choice experiments: a further methodological approach

In order to estimate the ornamental value of trees, many countries use specific parametric methods, which however are based on a subjective choice of parameters and assignment of respective weights.Aim of the paper is the overcoming of the above limits through the implementation of a different methodological path based on Choice Experiments. It allows the anchoring of the ornamental value to the utility that the community derives from the enjoyment of aesthetic, architectural, historical and cultural externalities of trees.In order to estimate the ornamental value of trees, many countries use specific parametric methods, which however are based on a subjective choice of parameters and assignment of respective weights.Aim of the paper is the overcoming of the above limits through the implementation of a different methodological path based on Choice Experiments. It allows the anchoring of the ornamental value to the utility that the community derives from the enjoyment of aesthetic, architectural, historical and cultural externalities of trees

Il valore ornamentale dell’albero: proposta metodologica per un nuovo percorso valutativo

In order to estimate the ornamental value of trees, many countries use specific parametric methods, which however are based on a subjective choice of parameters and assignment of respective weights. Aim of the paper is the overcoming of the above limits through the implementation of a different methodological path based on Choice Experiments. It allows the anchoring of the ornamental value to the utility that the community derives from the enjoyment of aesthetic, architectural, historical and cultural externalities of trees