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Open AccessArticle

An Evaluation Model for Property-Purchasing Plans Based on a Hybrid Multi-Criteria Decision-Making Model

1
Taipei Municipal Lao-Song Elementary School, No. 64, Guilin Rd., Wanhua District, Taipei 108, Taiwan
2
School of Economics and Management, San Ming University, No. 25, Ching-Tung Rd., Sanming 365004, China
3
Waikato Management School, University of Waikato, private Bag 3105, Hamilton 3240, New Zealand
4
Department of Accounting, Ming Chuan University, 250 Zhong Shan North Road, Section 5, Taipei 111, Taiwan
5
Department of Business Administration, Ming Chuan University, 250 Zhong Shan North Road, Section 5, Taipei 111, Taiwan
*
Author to whom correspondence should be addressed.
Mathematics 2020, 8(6), 860; https://doi.org/10.3390/math8060860
Received: 20 April 2020 / Revised: 21 May 2020 / Accepted: 22 May 2020 / Published: 26 May 2020
(This article belongs to the Special Issue Mathematical Analysis in Economics and Management)
Purchasing a property entails making rankings, comparisons, and trade-offs among various housing characteristics. When trying to sell a house, real estate brokers take on an important role as a middle-person between the seller and buyer. Thus, this research sets up a dynamic price recommendation method for housing purchases and applies the fuzzy multiple criteria decision making (FMCDM) technique, so as to realize housing quality and evaluation. We utilize this method based on the prospect theory of the loss aversion effect, in order to aid real estate brokers’ job of coordinating between the seller and buyer. The method helps us to provide an objective view of the evaluation matrix. From the pricing strategy, the results are able to match price versus quality and improve brokers’ intermediation effects. The brokers can subsequently make recommendations regarding a suitable price, decisions on negotiation strategies to reach an agreement, and settle upon an acceptable price. View Full-Text
Keywords: aspiration level; house-purchasing decision; multiple criteria decision making (MCDM); prospect theory; reference point aspiration level; house-purchasing decision; multiple criteria decision making (MCDM); prospect theory; reference point
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MDPI and ACS Style

Lin, J.-K.; Lin, H.-L.; Wang, W.Y.C.; Chang, C.-H.; Lin, C.-T. An Evaluation Model for Property-Purchasing Plans Based on a Hybrid Multi-Criteria Decision-Making Model. Mathematics 2020, 8, 860. https://doi.org/10.3390/math8060860

AMA Style

Lin J-K, Lin H-L, Wang WYC, Chang C-H, Lin C-T. An Evaluation Model for Property-Purchasing Plans Based on a Hybrid Multi-Criteria Decision-Making Model. Mathematics. 2020; 8(6):860. https://doi.org/10.3390/math8060860

Chicago/Turabian Style

Lin, Jun-Kun; Lin, Hung-Lung; Wang, William Y.C.; Chang, Ching-Hui; Lin, Chin-Tsai. 2020. "An Evaluation Model for Property-Purchasing Plans Based on a Hybrid Multi-Criteria Decision-Making Model" Mathematics 8, no. 6: 860. https://doi.org/10.3390/math8060860

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