Farmland appraisal based on the analytic network process |
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Authors: | Mónica García-Melón Javier Ferrís-Oñate Jerónimo Aznar-Bellver Pablo Aragonés-Beltrán Rocío Poveda-Bautista |
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Institution: | (1) Department of Engineering Projects, Polytechnic University of Valencia, Camino de Vera s/n, 46022 Valencia, Spain;(2) Department of Economy and Social Sciences, Polytechnic University of Valencia, Camino de Vera s/n, 46022 Valencia, Spain |
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Abstract: | This paper presents an application of the Analytic Network Process (ANP) to farmland appraisal. The purpose of this new methodology
is to solve some of the drawbacks found in comparative and capitalisation methods, called classical appraisal methods, which
cannot deal with contexts where only partial information is available and/or qualitative variables are used. The ANP is a
method based on the Multiple Criteria Decision Analysis (MCDA). Previous works have already applied other MCDA techniques
to the appraisal context, such as the Analytic Hierarchy Process (AHP), however they have not been able to handle all the
complexities of many real world appraisal problems. The ANP provides a more accurate approach for modelling complex environment
because it allows the general study of the quantitative and qualitative explanatory variables of the price and the incorporation
of feedback and interdependence relationships among variables. The new proposed methodology has been applied to a case study
of a farm located in Valencia (Spain) in order to demonstrate its goodness. Both quantitative and qualitative variables, such
as the age of the trees, productivity or water quality, have been considered to assess the market value of the farm. Six farms
from the same region have been selected as reference assets. The appraisal problem has been solved in three different ways
in order to study the influence of each model on the value of the problem farm. In this study it has been proved that the
more information is incorporated into the model, the higher accuracy of the solution. From the results of this work we can
conclude that the approach proposed stands out as a good alternative to current farmland appraisal approaches, as it has proven
to be useful when data are only partially available, qualitative variables are used and influences among the explanatory variables
are present. |
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Keywords: | Farmland appraisal Multicriteria AHP ANP |
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