2020
DOI: 10.1007/978-3-030-58814-4_45
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The Cross Validation in Automated Valuation Models: A Proposal for Use

Abstract: The appraisal of large amounts of properties is often entrusted to Automated Valuation Models (AVM). At one time, only econometric models were used for this purpose. More recently, also machine learning models are used in mass appraisal techniques. The literature has devoted much attention to assessing the performance capabilities of these models. Verification tests first train a model on a training set, then measure the prediction error of the model on a set of data not met before: the testing set.… Show more

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Cited by 2 publications
(2 citation statements)
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“…A resampling strategy was performed as stated in Reis-Pereira et al. (2022) to reduce the possibility of overfitting ( Berrar, 2019 ; Valier, 2020 ).…”
Section: Methodsmentioning
confidence: 99%
“…A resampling strategy was performed as stated in Reis-Pereira et al. (2022) to reduce the possibility of overfitting ( Berrar, 2019 ; Valier, 2020 ).…”
Section: Methodsmentioning
confidence: 99%
“…The final model accuracy was then taken as the mean from the number of repeats [87,88]. This strategy allows the execution of verification steps by the model before the final verification is measured on the testing set, decreasing the possibility of overfitting [89,90].…”
Section: Model Development and Selectionmentioning
confidence: 99%