Arbeitspapier
AVM and high dimensional data: Do ridge, the lasso or the elastic net provide an "automated" solution?
In this paper, we apply Ridge Regression, the Lasso and the Elastic Net to a rich and reliable data set of condominiums sold in Berlin, Germany, between 1996 and 2013. We their predictive performance in a rolling window design to a simple linear OLS procedure. Our results suggest that Ridge Regression, the Lasso and the Elastic Net show potential as AVM procedures but need to be handled with care because of their uneven prediction performance. At least in our application, these procedures are not the "automated" solution to Automated Valuation Modeling that they may seem to be.
- Language
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Englisch
- Bibliographic citation
-
Series: FORLand-Working Paper ; No. 22 (2020)
- Classification
-
Wirtschaft
Housing Supply and Markets
Semiparametric and Nonparametric Methods: General
- Subject
-
Automated valuation
Machine learning
Elastic Net
Forecastperformance
- Event
-
Geistige Schöpfung
- (who)
-
Hinrichs, Nils
Kolbe, Jens
Werwatz, Axel
- Event
-
Veröffentlichung
- (who)
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Humboldt-Universität zu Berlin, DFG Research Unit 2569 FORLand "Agricultural Land Markets - Efficiency and Regulation"
- (where)
-
Berlin
- (when)
-
2020
- DOI
-
doi:10.18452/21263
- Handle
- URN
-
urn:nbn:de:kobv:11-110-18452/22005-0
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Hinrichs, Nils
- Kolbe, Jens
- Werwatz, Axel
- Humboldt-Universität zu Berlin, DFG Research Unit 2569 FORLand "Agricultural Land Markets - Efficiency and Regulation"
Time of origin
- 2020
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Prediction of internal egg quality characteristics and variable selection using regularization methods: ridge, LASSO and elastic net
Prediction of the critical temperature of a superconductor by using the WOA/MARS, Ridge, Lasso and Elastic-net machine learning techniques
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Can insurance provide the US dairy farm safety net?
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