An Exposition of AVM Performance Metrics. Issue 1 (1st January 2020)
- Record Type:
- Journal Article
- Title:
- An Exposition of AVM Performance Metrics. Issue 1 (1st January 2020)
- Main Title:
- An Exposition of AVM Performance Metrics
- Authors:
- Ecker, Mark
Isakson, Hans
Kennedy, Lee - Abstract:
- Abstract: This case presents a thorough exposition of the state of the art in the calculation and interpretation of automated valuation model (AVM) performance metrics, including the forecast standard deviation (FSD), confidence scores, vertical and horizontal equity, and error buckets. It also discusses the failure rate, failure magnitude, and failure median absolute percentage error (MAPE) metrics, which focus on tails of an AVM's distribution of errors. In addition, this case demonstrates the calculations and relationships between the AVM performance metrics using a regression model and property sales from a medium-sized Midwestern college city.
- Is Part Of:
- Journal of real estate practice and education. Volume 22:Issue 1(2020)
- Journal:
- Journal of real estate practice and education
- Issue:
- Volume 22:Issue 1(2020)
- Issue Display:
- Volume 22, Issue 1 (2020)
- Year:
- 2020
- Volume:
- 22
- Issue:
- 1
- Issue Sort Value:
- 2020-0022-0001-0000
- Page Start:
- 22
- Page End:
- 39
- Publication Date:
- 2020-01-01
- Subjects:
- AVM performance metrics -- confidence score -- cross-validation -- error buckets -- failure MAPE -- failure rate -- FSD -- unbiasedness
Real estate business -- Study and teaching -- Periodicals
Real estate business -- Research -- Periodicals
333.33071 - Journal URLs:
- https://www.tandfonline.com/loi/rjrp20 ↗
- DOI:
- 10.1080/15214842.2020.1757352 ↗
- Languages:
- English
- ISSNs:
- 1930-8914
- Deposit Type:
- Legaldeposit
- View Content:
- Available online (eLD content is only available in our Reading Rooms) ↗
- Physical Locations:
- British Library HMNTS - ELD Digital store
- Ingest File:
- 24855.xml